NEW YORK - Commercial real estate prices as measured by Moody's/REAL Commercial Property Price Indices (CPPI) continued to decline in August, but at a slower pace than in preceding months. The CPPI was down 3.0% from July after that month saw a 5.1% drop from June.
"Although prices have declined steadily over the past year, the rate of decline has slowed in recent months after falling by about 8% in both April and May," says Moody's Managing Director Nick Levidy.
Moody's/REAL CPPI is now 32.8% below what it was a year earlier and 40.6% below its peak measured in October of 2007.
At 377 sales, the overall volume of transactions in August continued to be low. The number of sales, however, was a pick-up from July, which had slightly more than 300 sales.
