U.S. Commercial-Property Prices Fall With Worst Yet to Come
- Hotel, retail and office values all decline year-over-year
- Outlook dims as the economic toll from pandemic deepens
Photographer: Spencer Platt/Getty Images
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U.S. commercial real estate prices are falling as the economic toll of the Covid-19 pandemic worsens -- and the decline is just getting started.
Indexes for office, retail and lodging properties all slipped year-over-year in July, data from industry tracker Real Capital Analytics Inc. show. Transaction volume plummeted to $14 billion across all sectors, down 69% from July 2019.