U.S. commercial property prices posted their strongest annual gain since late 2022, with the RCA CPPI US National All Property Index rising 2.1%.
On a quarter-over-quarter basis, the index rose 1.1%, suggesting a faster annualized pace of growth of 4.7%.
Apartment prices were flat from a year earlier in the first quarter, ending a stretch of annual declines that lasted more than three years. Apartment prices rose 0.3% from the fourth quarter of 2025, suggesting an annualized rate of growth of 1.4%.
The Federal Reserve’s data shows a similar path for multifamily prices:
Source: MSCI
Multifamily Market News 