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U.S. CRE Prices Rise 0.7% in September, RCA Report Shows
Driven again by growth in the multifamily sector, prices of U.S. commercial properties increased 0.7% in September from the previous month. Research by Real Capital Analytics (RCA) shows the U.S. National All-Property Index increased 7.2% from a year ago.
RCA’s Elizabeth Szep writes, “ Price trends in September continued on the relatively-consistent path that has been shown throughout 2018 so far. Growth in national prices is being driven by gains in the Non-Major Metros, and there is a wider variation in growth patterns among property types this year compared with 2017.”
The apartment sector was the only property type still posting double-digit annual price growth. Multifamily prices rose 0.5% in September, and are up 10.7% year-over-year, according to RCA.
RCA reports apartment sector deal volume was up 12% for year-to-date 2018, compared with the same period a year ago. Transactions of single apartment assets, a key indicator of market health, set a record for the year to date.
Suburban office prices are up 0.4% in September from August, and 8.8% from a year prior.
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