Moody's: Commercial real estate prices slipping

Interesting article in Forbes online today. I’ve seen some tightening up of commercial credit just in the last couple of months. Thanks to http://twitter.com/bob_sibdu for the heads up. Here is the article:

Prices for commercial real estate slipped more than 2 percent in March as it became tougher to borrow money to buy property, Moody’s reported Monday.

The Moody’s (nyse: MCOnews people )/REAL Commercial Property Price Indices fell 2.3 percent in March from February, the largest one-month decline since the inception of the index.

Prices are still up 0.9 percent from last March, Moody’s said.

Sally Gordon, a senior vice president, said the decline is to be expected as buyers cope with a tougher financing environment. The market is going to see “some ups, more downs, with a downward net bias over time,” she said.

Prices for retail properties were down the most, while prices for apartments, offices and industrial properties also slipped.

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