Commercial commercial real estate prices saw a 4.3% rise in September according to Moody's Investors Service and Real Estate Analytics. The rebound marks the first increase since May and the largest gain in the history of the CPPI. Prices for office properties and industrial spaces decreased during the third quarter, down 3.8% and 4.3%, respectively. Compared to the year-ago third quarter, when office properties hit a recession low, prices are up 4.4%.
"Each of the summer months this year recorded declines in the 3%-4% range, followed by this month’s sizeable uptick," said Moody's Managing Director Nick Levidy. "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."
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