US commercial real estate prices as measured by Moody’s/REAL Commercial Property Price Indices (CPPI) declined 0.5% in March, the second month of falling values after a slight rebound in prices earlier in the year.

“Commercial property prices have been hovering in a range 40% to 44% below peak levels for the past eight months,” said Moody’s Managing Director Nick Levidy. “Prices are now 2.9% above the recession low recorded in October 2009 and at the level they were seven months ago in September.”