Property pricing continued to decline over the past month, with Ten-X’s latest Commercial Real Estate Nowcast showing erosion of 0.1% compared to August. The five-month streak of falling prices comes amid divergent opinions among investors over the duration of the business cycle, a higher interest rate environment and a lack of meaningful improvement in fundamentals for many sectors, Ten-X said Thursday.
Although its gains were meager, retail fared better than some of the other property segments. The sector’s 0.4% increase in September marked its fourth consecutive month of rising prices. Pricing for retail is now up 6.7% Y-O-Y. . . . more