Filed under: Indices, Economic data, Housing, Recession, Financial Crisis
Investment-grade commercial real estate prices gained 4.4% in the third quarter of this year. But, it’s hard to tell if — like brief blips of hope we’ve seen in consumer spending, unemployment and even luxury meals in London — this is a change in the market or just a tease.
This increase in the MIT Center for Real Estate’s transaction-based index (TBI) is the first up-tick in more than a year and the biggest gain since the middle of 2007. One quarter doesn’t make a trend, cautions David Geltner, director of research at the MIT Center for Real Estate, but he says, “this is the strongest sign of a bottom that we’ve had in two years.” The TBI reached 36.5% below its 2007 peak last quarter, up from 39% from the high-water mark in mid-2007.
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Commercial real estate comeback originally appeared on BloggingStocks on Tue, 03 Nov 2009 15:40:00 EST. Please see our terms for use of feeds.
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