CRE property prices dropped 1.2% overall from November to December 2022, according to MSCI. Growth from earlier last year "continued to dissipate," the firm reported. "The RCA CPPI National All-Property Index dropped 1.2% from November and slowed to a 0.9% annual growth rate."
"The impact of higher mortgage costs and falling deal activity has been felt on pricing across the property types, though some sectors are showing more acute changes," MSCI said. "In the fourth quarter of 2022, total U.S. deal volume fell 62% compared to a year earlier."
The only sector that saw a month-over-month gain was industrial, with the index up 0.5% and annual growth, although having slowed, at a 12.2% rate. All other sectors that MSCI monitors were down.
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