Commercial real estate values, as measured by the widely recognized Green Street Commercial Property Index (CPPI), have turned positive in the last several months. The index declined by over 21% from its recent peak in April 2022 to what appears to be this cycle’s low point in December 2023. However, overall pricing has ticked up in 2024 by nearly 2%, a positive sign that the commercial real estate pricing decline is likely over and the rebound is imminent.
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