Moody’s Commercial Property Index Rose 2.4% in August.
I may have a bit of egg on my face from some earlier posts I had commented on the commercial market. My opinion was that I did not see the commercial market recovering before the residential market. I also said that the commercial market won’t recover until there is demand for office space and manufacturing space. Hopefully I am wrong and the commercial market will lead the recovery for the first time in our history. This report does not show a recovery, but it shows promising signs or just a blip – too early to tell, but still promising news.
U.S. commercial real estate prices rose in August for a fourth straight month as financially distressed properties made up a smaller share of transactions, according to Moody’s Investors Service.
The Moody’s/REAL Commercial Property Price Index advanced 2.4 percent from July. It’s up 7.2 percent from a year earlier and 15 percent from its post-peak low in April, the New York- based company said in a report today.
Read Full Article from Bloomberg
Calculated Risk has a good article on this:
Moody’s: Commercial Real Estate Prices declined 4.2% in March, Hit new Post-Bubble Low (calculatedriskblog.com)