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US commercial real estate prices as measured by Moody’s/REAL Commercial Property Price Indices ((CPP)I) decreased 7.6% in May, leaving the index at 28.5% below its level a year ago and 34.8% below the peak in prices measured in October 2007.

Large commercial real estate price declines in the last two months suggest that a bottom may be starting to form, although higher transaction volumes would be necessary in order to draw any definite conclusions. - Moody’s Nick Levidy

In May overall sales volume by both dollar amount and count reached new historical lows for the CPPI, which dates back to 2000.

Source: U.S. Commercial Real Estate Prices Down 7.6% in May