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Where CRE Prices Are Trending By Type
Trepp did a recent analytic update of its Trepp Property Price Index (TPPI), which measures CRE price movements over time. "It is constructed based on proprietary CRE transaction data from Trepp and its partners using a repeat sales methodology," they wrote. "In total, we calculated 569,900 repeat sales since 2000 and have added 9,192 new sale pairs in 2024 Q1. The index is equally weighted, ensuring a balanced representation of various property types and price tiers across the CRE market."
They had produced composite figures. Now they are also generating sector-specific figures for multifamily, office, retail, industrial and lodging.
The composite for the first quarter of 2024 saw a quarter-over-quarter increase of 0.51% for a "slight improvement" in the CRE market. The year-over-year change was 0.66%. "However, when compared to its peak in mid-2022, the composite index is still 1.94% lower, indicating that the market has not yet fully rebounded despite possible signs of recovery in the most recent quarter," they said.
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