Property sales rose 75% in December, according to Real Capital Analytics. It is too soon to say the commercial real estate market has hit bottom, but industry watchers are hopeful the worst is over. "It makes me feel very confident that the dramatic violent price movement that we saw in the first part of 2009 is over," says Neal Elkin, president of research firm REAL. "But I would never be so bold to say that we are going straight up from here."

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