Ten-X's Peter Muoio June served as “a testament to the current vulnerability of the overall CRE market,” Muoio says.

IRVINE, CA—Commercial property pricing retreated by 0.3% in June, although two of the five major sectors enjoyed gains during the month, Ten-X said Thursday. This marks the second consecutive monthly decline in Ten-X’s Commercial Real Estate Nowcast, due to rising interest rates, policy uncertainty and mounting questions about the long-term viability of the current economic cycle.

“While commercial real estate pricing appeared to be rebounding earlier this year, recent declines show a market struggling to cope with various economic uncertainties,” says Peter Muoio, chief economist at Ten-X. The firm reports that pricing remains 9.5% above the year-ago period, though.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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