📝CRE360 Take:
MSCI’s RCA CPPI rose 0.9% year-over-year in July 2025, its second straight annual increase. Values also edged up 0.6% month-over-month, and all major property types posted annual gains. The report signals the market has ended its slide and is inching into recovery.

CRE360 tempers enthusiasm: gains remain less than 1% and values are still well below 2022 peaks. The report doesn’t break down which sectors drive the uptick — likely industrial and retail — nor does it note that high-quality trades may be skewing results.

Signal: watch/chase early. This may mark the bottom in values. Investors with dry powder should target quality assets in multifamily, industrial, and retail before pricing momentum broadens. Office still lags. The window to buy at the trough is closing, but discipline is required.

Publisher Credit:
Full report: MSCI — U.S. Commercial Property Price Index, August 2025