All major U.S. property sectors experienced annual declines in June as commercial property prices continued to drop through the midpoint of 2023, according to MSCI Real Assets. The RCA CPPI National All-Property Index dropped 10.2% from a year ago and 0.2% from May, with the apartment sector seeing the largest decline at 11.7%. Prices for apartments were unchanged in June compared to May; however, they had fallen 2.3% from December 2022’s figures prior month-over-month comparison period .
MSCI noted that “challenges with financing deals have weighed on deal activity and property pricing across all sectors” during Q2 of 2023 – which saw 63% less volume than its corresponding quarter in 2022 – as reported by US Capital Trends’ latest edition .
