The U.S. commercial real estate market slowed down for the first time in 13 months, as rising interest rates and inflation caused worries throughout the industry.
Commercial property sales for April fell 16 percent from the same month in 2021 to $39.4 billion, according to an MSCI Real Assets report last month.
In contrast, total commercial property sales in March were 57 percent higher than the same month the year before.
The RCA CPPI National All-Property Index for April showed commercial real estate prices rising 17.9 percent from a year ago, at a similar pace to earlier months since the start of the year.
The commercial sector was particularly hard hit in the first year of the pandemic, after thousands of hotels, entertainment venues, retailers, and offices were shut down throughout the country, with millions of Americans laid off or sent home to work remotely….