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Moody’s/RCA CPPI increases 1.2 percent in August, retail remains hot
According to the latest Moody’s/RCA Commercial Property Price Index (CPPI), commercial property prices have continued their steady recovery from 2009. The national all-property composite index increased by 1.2 percent in August, fueled by a 1.7 percent increase in core commercial prices. Retail properties continue to be the top performing core commercial sector, seeing an increase of 9.6 percent over the last three-month period, and a 23.3 percent increase over the past 12-month period.
The national all-property composite has recovered nearly two-thirds of its peak-to-trough loss, seeing a 43.8 percent recovery since hitting the floor in December 2009. It now stands only 14 percent below the December 2007 peak.
The growth in the multi-family sector has continued to cool, with apartment price growth seeing increases of less than 1 percent over the last three months, and just 0.1 percent in August. That said, among the 13 non-major apartment markets covere