Monday, March 22, 2010

Moody's: CRE Prices Increase 1% in January 2010

From Bloomberg: "U.S. Property Index Rises for Third Straight Month":
  • The Moody’s/REAL Commercial Property Price Index climbed 1% from December.
  • Values are 40% lower than the peak in October 2007. The index fell 24% from a year earlier.
  • The number of transactions fell 8% to 376 in January from a year earlier and was lower than December, when buyers and sellers tried to complete deals before the year’s end.
  • A few months of price gains does not necessarily indicate a sustainable trend, particularly in these difficult times,” Moody’s said.
Below is a comparison of the Moodys/REAL Commercial Property Price Index (CPPI) and the Case-Shiller composite 20 index: