The headline rate of U.S. property price growth quickened in May, powered by accelerating increases in apartment prices and gains across all major property types, the latest RCA CPPI: US summary report shows. The US National All-Property Index grew 0.8% from April and 8.9% from a year ago.
Apartment sector prices were the fastest growing in May at 10.1% year-over-year, overtaking industrial at 9.5%. Office price growth came in at 2.9% and the retail sector turned in a 2.3% annual gain.
Suburban office properties continued to drive price growth in the office market, posting a 4.5% year-over-year increase. CBD office prices, meanwhile, declined 5.5%. The CBD office index has not registered a positive annual return since August.
As shown in the latest edition of US Capital Trends, also released this week, deal activity in the apartment sector has been the strongest among the major property types so far in 2021. Transaction volume in the first five months of the year has surpassed the same period in 2020 and the years leading up to the pandemic.
To learn more about the data behind this article and what Real Capital Analytics has to offer, visit https://www.rcanalytics.com/.
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