CRE Prices down another 5.5%

January's decline was the largest since Moody's CPPI index started in 2000.

Prices are now down 19.1% from a year ago and 15.4% lower than they were two years ago. They have declined 21.0% from their peak in October 2007. Prices have nominally returned to the levels they were in the spring of 2005, says Moody's.