Commercial property values took steep drop in July, Moody's says

09/22/2009 | NYTimes.com

The prices buyers were willing to pay for commercial real estate fell sharply in July, Moody's Investors Service said in a report. After easing downward only 1% in June, the Moody's/REAL Commercial Property Price Indices plummeted 5.1% in July. Deal volume continued weak with an average of only 375 sales a month for the first seven months of 2009.

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