Prices of commercial real estate in which there are large numbers of major investors rose 4.4 percent in the third quarter, according to the MIT Center for Real Estate’s transaction-based index.
This is the first increase in more than a year and the largest since the market slowed in mid-2007. Observers see this as a harbinger of better times in the troubled commercial space.
"One quarter does not a trend make and we are still well below normal trading volume," David Geltner, director of research at MIT/CRE, said in a statement. "Nevertheless, this is the strongest sign of a bottom that we've had in two years."
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