Sales of commercial real estate assets in the US hit record-breaking highs in the third quarter, thanks largely to activity in the apartment and industrial sectors.

Real Capital Analytics' latest US Capital Trends report shows that deal volume hit $450 billion in the first three quarters of the year, a high watermark for commercial real estate generally. Deal activity has not approached that level since 2007, prior to the Great Financial Crisis. 

According to Green Street's all-property index, prices have increased by 18% this year and are 8% higher than pre-pandemic levels. The firm has issued a strong "buy now" signal as cap rates continue to slump, noting that fundraising by real estate private equity firms this year has "smashed records" and predicting that continued competition will lead to higher property prices in 2022.