According to the CPPI report, which is prepared for Moody's byReal Estate Analytics using RCA data, the four months between Juneand September saw prices fall by an average 3.2%. That compareswith a 4.6% decline in values for the previous four-monthperiod.
"Further price declines are almost certain over the short term,"says Nick Levidy, Moody's managing director, in a statement."However, it is notable that the pace of deterioration appears tobe moderating."
Similarly, the report points out that transaction volume hasbeen hovering "just below 400" per month throughout '09, comparedto a monthly average of 1,000 sales last year. In September, thenumber of deals dipped slightly to 363 while the dollar volume roseslightly to $5.1 billion.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
