CRE professionals across the largest property sectors largely believe current pricing is fair, according to Altus Group's CRE industry and conditions sentiment survey for the third quarter.

More than 80% described the hospitality sector as fairly priced and more than 70% said the retail sector is fairly priced, while about half of respondents said multifamily and industrial are priced about right. Single-family residential, land/development and office all were described as overpriced, according to the survey.

The survey, which was conducted prior to the Fed's recent interest rate cut, provides insights into the market sentiment, conditions, metrics and issues affecting the commercial real estate industry.