Commercial Property Price Index: May, 2024

Commercial Property Prices Up 1% This Year

Newport Beach, CA, June 6, 2024 — The Green Street Commercial Property Price Index® increased 0.7% in May. The all-property index—a measure of pricing for institutional-quality commercial real estate—has increased 1% this year and is now 21% below its March ’22 peak.

“Property pricing this year has trended in line with our expectations,” said Peter Rothemund, Co-Head of Strategic Research at Green Street. “By the end of last year, real estate prices had finished adjusting to higher interest rates, and pricing has been stable since then. We expect that to continue.”