E-commerce has taken its toll on retail, while hotel grapples with supply expansion, says Ten-X's Peter Muoio.

IRVINE, CA—The major commercial property sectors have seen mixed results when it comes to pricing growth, with three of the five posting modest gains from the previous month, according to the latest Commercial Real Estate Nowcast from Ten-X. Apartments once again led the winners' parade, while retail and hotels have fared less well in October.

Overall, commercial property valuations rose by 1% compared to September. Year to date, overall CRE valuations are now 6.9% higher than a year ago, despite a considerably slower pace of growth compared to what the industry saw in 2015.

“While unable to match the brisk pace of growth set last year, 2016 has been a year of slow yet steady growth for commercial real estate as a whole,” says Peter Muoio, Ten-X's chief economist. Although other sectors have continued thriving, “major shifts in consumer behavior have taken a toll on the retail sector, while the hotel sector continues to languish as supply constrains occupancies and RevPAR, driving down pricing.”