Moody’s, RCA: CRE Prices Top Pre-Recession Levels

Moody's, RCA: CRE Prices Top Pre-Recession Levels
Moody’s and RCA’s joint Commercial Property Price Indices (CPPI) reveal that the CPPI rose 1.6% in August, thanks in large part to a 1.8% rise in its best-performing segment, central business district. Central business district office has been the top performer for the past three months, rising 6.3%, while suburban office comes in second, rising 3%. The CPPI also topped its November 2007 peak for the first time, adjusting for inflation. It’s now 14.5% above its pre-crisis peak on a nominal basis, and 1.5% above when adjusted for inflation. Additionally, apartment prices exceeded their pre-crisis peak by 33%, with core commercial property prices about 8% higher than their previous peak. [Moody’s]

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