Moody’s/REAL National Commercial Property Index Rose 4.3% In September

(For September 2010)

Moody’s/REAL National Commercial Property Index rose 4.3% in September and it is now running at  +0.3% y-o-y.

The relatively large swings in the index in recent months are due in part to the uncertain macroeconomic environment and the low number of repeat-sale transactions. In the first nine months of 2010, four months have measured a gain in prices, while five have shown a decline.The total number of repeat-sale transactions increased to 153 in September, a slight uptick over the prior months. Dollar volume jumped to $3.7 billion, up from $1.85 billion in August. This large increase in dollar volume was due to a handful of large loans. There were nine repeat-sale transactions over $100 million in September. This is the largest dollar amount of repeat-sale transactions since January, 2008.

Chart 1. Moody’s/Real National Commercial Property Index

Chart 2. Moody’s/Real National Commercial Property Index – Value And Number Of Repeat-Sales Transactions

Big positive surprise, but I think nobody really knows where are CRE prices heading.

This entry was posted on Tuesday, November 23rd, 2010 at 6:52 am and is filed under U.S. Economic Data, U.S. Housing. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.

 

Get Adobe Flash player