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National
The latest results of the Moodys/REAL CPPI published by Moody’s during the 3rd Quarter show a return of negative 3.3% in August for the all properties national index.
The index has now fallen to a level that is only 0.9% above the recession low recorded in October 2009. The index has declined 7.3% in the past year, and has had a 35.9% drop in the past two years. The CPPI is currently 43.2% below the peak that occurred in October 2007.
Southern California
Southern California turned in a mixed performance over the past four quarters, with two property types, apartments and office, increasing in price and two property prices, industrial and retail, showing a decline.
Both industrial and retail in Southern California had declines in prices, dropping 7.9% and 15.0%, respectively. In the past two years, Southern California industrial and retail prices have fallen 22.2% and 35.5%, respectively.
Office buildings in Southern California was the other index to record a rise in prices during the past four quarters, gaining 1.1%. Office prices in Southern California have declined 25.0% in the past two years. Southern California apartment prices had the largest increase in the past year, gaining 2.9%. In the past two years the Southern California apartment index has also had the best result in the region, declining 11.4%.
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Michael Duhs, Managing Director
East West Commercial Real Estate
http://www.EastWestCommercial.com
(949) 939-8352
Serving Banks, Special Servicers, and Investors in Commercial Real Estate REO’s through its commercial brokerage and BOV / BPO services throughout southern California.
http://www.SanDiegoApartmentsForSale.com
http://www.LosAngelesApartmentsForSale.com
