U.S. Property Prices Set Record Pace
November 23, 2021 | James Sprow | Blue Vault
U.S. property prices increased at the fastest annual rate in October in the history of the RCA CPPI National All-Property Index, which jumped 15.9% year over year and 1.7% from September, according to Real Capital Analytics. The index comprises office, industrial, retail and apartment properties.
Investor demand for commercial real estate in the U.S. has been high in 2021, resulting in a total of $523.8 billion in acquisitions in the year through October, reflecting a 70% rise from the year-ago period.
Apartment deals in the 10-month period totaled $201.3 billion, jumping 96% year over year and surpassing all other sectors by a wide margin. The second-highest spending was in the industrial sector at $107.6 billion, marking a 48% year-over-year rise. Office deals totaled $94.9 billion in the period, up 40% year over year. The office index was up 13.7% year over year, driven mainly by suburban office assets, Real Capital Analytics noted.
Source: S&P Capital IQ
