Commercial real estate prices in the US increased 4.3% in September from the previous month, the biggest gain in a decade of records. The Moody’s/REAL Commercial Property Price index is now 0.3% up from a year ago as a small number of high-priced deals drove up values after falling to an eight year low in August.
But the Moody’s/REAL index is still 43% below its October 2007 peak. The gauge measures overall commercial property values on a monthly basis and breaks the numbers down by property type once each quarter.
The changes are based on repeat sales transactions. While the number of repeat sales saw only a slight uptick in September, the dollar volume of those transactions doubled from August to $3.7 billion, according to MoodyÃ¢â‚¬â„¢s. That was the largest volume since January 2008, the company said.