US Sees Third Month of Commercial Real Estate Price Increases

U.S. commercial property prices rose 0.6 percent in November from the previous month, the third consecutive gain, as the economy showed signs of improvement, according to Moody’s Investors Service.

The Moody’s/REAL Commercial Property Price Index climbed 2.8 percent from a year earlier, Moody’s said in a report today. It is up 6.4 percent from an eight-year low in August.

The U.S. economy added about 1.1 million jobs in 2010, the most since 2006, helping to put a floor under commercial real estate prices. Rising employment supports demand for office properties, the largest part of the market, said Christopher Cornell, an economist at Moody’s Analytics Inc.

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