MOODY’S/REAL COMMERCIAL PROPERTY PRICE INDEX DECLINES 1.7% FOR MARCH

Index Stands 20.8% below March 2008 Levels 22.8% below peak of October 2007 Value Drops Nearly 20% in First Quarter ‘09

The Moody’s/REAL National All Property Type Aggregate Index from Real Estate Analytics, LLC, (REAL), measures 148.07 for March 2009, a decrease of 1.7% from the previous month.  The Index, which has captured price data through the end of March 2009, is now 20.8% lower than it was a year ago and 22.8% below the peak measured in October 2007.  The index also indicated a 20% drop in prices over the past two years and has returned to its level of March 2005, although still lagging behind the residential sector falls.

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