The Real Deal Miami

Moody’s: Large commercial property price declines are over

February 22, 2010 01:39PM

Could the battered U.S. commercial real estate market be starting to rebound? Moody’s/REAL registered its second month-over-month commercial property price increase in December, a 4.1 percent jump that represented the largest such increase in nine years, according to a report released today. Transaction volume was also up, with a total of $9 billion from 716 transactions, consistent with standard end-of-the-year trends. Despite the positive signs, December prices were down 29.2 percent over one year ago and 40.8 percent off of their peak values. Moody’s was hesitant to conclude from the data that the market is on a steadily upward trend, but, according to managing director Nick Levidy, “we do believe that the period of large price declines is over.” TRD