The U.S. national rate of commercial property price growth rose in October as the weight of capital into the high-flying apartment and industrial sectors boosted gains, the latest RCA CPPI: US summary report shows. The US National All-Property Index rose 3.6% from a year ago, the apartment index rose 7.2% and the industrial index 8.5%.
Retail prices posted another month of declines, down 5.2% from a year prior. The already-struggling sector was the first to register the impact of Covid-19, as annual price trends turned negative in April. Returns in the sector are currently at a low not seen since the end of 2010.
The office sector continued to fall at about a 1% annual rate. Suburban offices have led to that slide, falling 1.6% year-over-year in October and posting five consecutive months of declining yearly returns
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