CRE prices are still rising, but the rate of growth for most types seems to have hit the top and has tipped over on the downward slope, according to data from MSCI's Real Capital Analytics.

"Price growth for US commercial properties hovered just below recent record highs in May, supported by price gains in the industrial and apartment sectors," the firm's report said. "The RCA CPPI National All-Property Index climbed 18.6% from a year ago, slightly down from the record annual growth of 19.3% seen in January."

This is not the first indicator that CRE price growth is slowing. 

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