S&P/GRA: CRE Prices Flat in June

Commercial real estate prices held steady in June on a national basis and recorded a 12-month increase of 1.5%, according to the S&P/GRA Commercial Real Estate Indices. The highest 12-month rates of return were recorded by the apartment sector, at 3.6%, and the Midwest, at 4.9%, S&P reported. The best monthly performances were turned in by the office sector, at 1.1%, and the Northeast, at 0.8%, according to the company. "While there are some pockets of relative stability in this month's numbers, overall the S&P/GRA Commercial Real Estate Indices appear to be trending down," said David Blitzer, managing director and chairman of S&P's Index Committee. ".... Only one of the regions and two of the property sectors saw price declines during the June/May period; however, most of the regions and sectors continue to show deceleration on an annual basis." The indices can be found on the Web at http://www.standardandpoors.com/indices.