Commercial Real Estate Prices in the US Fall for First Time Since 2011
- Office, apartment building values drop, Moody’s Analytics says
- Moody’s economist Zandi sees bigger price declines ahead
A "Commercial Real Estate" sign in the Financial District of San Francisco, California.
Photographer: Jason Henry/BloombergThis article is for subscribers only.
US commercial real estate prices fell in the first quarter for the first time in more than a decade, according to Moody’s Analytics, heightening the risk of more financial stress in the banking industry.
The less than 1% decline was led by drops in multifamily residences and office buildings, data culled by Moody’s from courthouse records of transactions showed.