The U.S. stock market hit a low in March 2009 and the recession officially ended less than four months later. Yet only now are there signs of a bottom in commercial real estate prices.
Moody’s Commercial Property Price Index topped out in October 2007, just as stocks did, but its fall has lasted longer. The index declined precipitously until August 2010, as prices on commercial property in the U.S. plunged. Since then, the index has inched up a bit.
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