U.S. Commercial Property Prices Slipped For The Second Straight Month

NNN Lease Market News

U.S. commercial property prices slipped for the second straight month in January, as distressed real estate sales weighed on values, according to Moody’s Investors Service.
The Moody’s/REAL Commercial Property Price Index slumped 1.2 percent from the previous month and 4.3 percent from a year earlier. It’s up 4.2 percent from an eight-year low in August, Moody’s said in a statement today.
The U.S. economy grew at a 2.8 percent annual rate in the fourth quarter, helping boost demand for office, retail and industrial space and apartments. Price increases are being held back by the number of distressed properties on the market, said Christopher Cornell, an economist at Moody’s Analytics Inc. in West Chester, Pennsylvania.
http://www.bloomberg.com/