The CoStar Commercial Repeat Sale Indices (CCRSI) National Composite Index ended 2011 was released this month, reflecting continuing gains in apartments and growing momentum in the office sector. An excerpt from the report:
Investor interest in office property also rebounded in 2011, with the office property index increasing by 17.3% since the end of March 2011. Like the recovery of the broader economy, the office rally has proved to be volatile and uneven despite the significant firming up of prices.
"Pricing gains have proven to be more explosive in tech-centric markets than in the overall market," according to the CoStar CCRSI report. "The office index will likely continue to vacillate between gains and losses until office demand growth becomes more evenly dispersed across markets."
Industrial property pricing increased by just 4.4% since March 2011, and was down slightly in the fourth quarter compared to year-ago levels.
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