Multifamily Property Prices Down 4% in June

Commercial real estate research and advisory firm Green Street reports that commercial property prices further declined in June, down 4.9% from a March 2022 high.

“The repricing that has occurred in bonds and stocks is finally evident in the commercial property market,” says Peter Rothemund, co-head of strategic research at Green Street, in the recently published report. “Price discovery is still taking place, and economic uncertainty and interest rate volatility make that challenging, but prices of most properties are down 5%+ from recent highs. In a few sectors, pricing has held up better.”

The report notes prices in the multifamily sector are down 4% over the past month, 15% in the past 12 months, and 16% since before the onset of the pandemic.

Read the full report at GreenStreet.com.