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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