May 31, 2016
Signs of renewed vigor are emerging in CRE pricing after a quiet winter period, reports Irvine, CA-based Ten-X. In the online real estate marketplace’s latest Nowcast report, the pricing index reveals that commercial valuations increased by 0.3% month-over-month in May, a 5.8% increase from one year ago, after a positive gain in April helped reverse a few soft months that opened 2016.
May’s apartment sector Nowcast is up 0.7% from the previous month, the strongest across all five major CRE sectors. The only CRE segment decline in May was found in industrial, which fell 0.7%
Ten-X’s Peter Muoio says, “Positive growth in the apartment sector helped fuel May’s Nowcast, where that sector’s gains were the strongest — something that is also evident due to robust pricing seen on the Ten-X online sales platform.”