For industrial, the RCA CPPI changes in March were 0.7% month over month, 2.2% over three months, and a 5.7% increase year over year.

Office, on the other hand, was a series of big slides. The one-month decline across the entire category was 1.0%. The three-month change was down 3.6%, with -16.6% over a year. Central business district offices fell faster: -2.1% in one month, -7.0% for three months, and -33.216.6% Suburban offices faced losses, but lower ones. They dropped -0.3%, -1.6% and -11.4%, respectively.

Although down 1.2% from a year ago, retail edged up 0.1% month-over-month and 0.2% in a three-month gain. Multifamily has seen losses, including -0.9% between February and March, -2.8% for the three-month period, and -8.4% over the previous 12 months. Even so, the pace of decline for apartment prices has decelerated in each of the last seven months. “Retail was the only sector other than industrial to post month-over-month growth, albeit just a 0.1% uptick.”

The largest losses for all types of CRE were those in central business districts: -0.5% for month-over-month, -1.5% for three months, and -5.2% over a year. For suburban, the numbers were flat for one month and three months, and down 2.0% for the year.

Source: “CRE Property Prices Fell 3% Year Over Year