Moody’s/REAL Commercial Property Price Index (CPPI) posted a 4.1% increase in December. This is the first month-over-month gain in the index since the summer of 2007. This increase is also the largest monthly increase in the history of the index.
Prices are down 29.2% over the last year, 39.8% since December 2007 and 40.8% from the market peak. In the report, Moody’s stated, “Although we are unable to conclude that the bottom is here, we do feel that the period of large price declines is over.”
In the month of December, 716 transactions totaling $9.0 billion, were registered. This is more than double that of November’s volume of $4.1 billion; perhaps a sign that transaction volume has finally bottomed.
[REALIndices.com]
CPPI posts 4.1% Increase in December
Moody’s/REAL Commercial Property Price Index (CPPI) posted a 4.1% increase in December. This is the first month-over-month gain in the index since the summer of 2007. This increase is also the largest monthly increase in the history of the index.
Prices are down 29.2% over the last year, 39.8% since December 2007 and 40.8% from the market peak. In the report, Moody’s stated, “Although we are unable to conclude that the bottom is here, we do feel that the period of large price declines is over.”
In the month of December, 716 transactions totaling $9.0 billion, were registered. This is more than double that of November’s volume of $4.1 billion; perhaps a sign that transaction volume has finally bottomed.
[REALIndices.com]