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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  May 20, 2010  |   Commercial Real Estate Business Still in Slump
U.S. commercial real estate prices fell 0.5 percent in March, compared to February, Moody’s Investors Service reported Wednesday.

Prices are down 42 percent from the October 2007 peak.

U.S. office vacancies rose to 17 percent in the first quarter, the highest level since 1994, while asking rents fell 0.8 percent, according to research company Reis Inc.

“This is continued bad news for property owners,” said Christopher Cornell, an economist at Moody’s Economy.com.

Source: Bloomberg, Brian Louis (05/19/2010)

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