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It's 6 Months Running for Price Declines

At this point, “the market's malaise can safely be described as a legitimate trend,” says chief economist Peter Muoio of Ten-X.

By Paul Bubny | Updated on October 27, 2017

Ten-X's Peter Muoio A gap between buyer and seller expectations on pricing “only exacerbates the slump,” says Muoio.

IRVINE, CA—Commercial property pricing slipped by 0.2% in October, marking the sixth month in a row of declining values, Ten-X said Thursday afternoon. At just 3.1%, year-over-year growth in pricing across commercial real estate sectors is now the weakest since Ten-X instituted its monthly Commercial Real Estate Nowcast.

“With a sixth consecutive month of decline, the market’s malaise can safely be described as a legitimate trend,” says Peter Muoio, chief economist with Ten-X. “The Ten-X CRE Nowcast’s annual growth rate has again reached its lowest level since we conceived the index, falling well below the 3.4% annual growth recorded last month, which was the previous low.”

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