Standard & Poor's News
Standard & Poor's Announces November Results of the S&P/GRA Commercial Real Estate Indices (SPCREX(TM))
NEW YORK,
The table below summarizes the results for
November November/ October/ 2007 October September 1-Year Index Level Change (%) Change (%) Change (%) Apartments 145.85 0.7% 2.0% 2.4% Office 144.92 -2.0% -2.5% 7.5% Retail 158.55 -0.4% -0.6% 5.4% Warehouse 159.12 0.8% -1.5% 8.2% Desert Mountain West 156.33 0.8% 1.5% 7.0% Mid Atlantic South 148.66 -1.5% 0.1% -1.9% Midwest 131.23 0.0% 0.3% 3.3% Northeast 144.63 0.0% -1.4% 6.6% Pacific West 161.66 -0.7% 0.6% 6.4% National 148.69 -0.3% -0.2% 4.9% Source: Standard & Poor's Data through November 2007
The National composite reported annual returns of +4.9% versus November of last year, this rate is unchanged from October's report. On a regional level, only the Mid Atlantic South reported an annual decline, down 1.9% from
"On a national scale annual returns flattened this month," says David Blitzer, Managing Director and Chairman of the Index Committee at Standard & Poor's. "However, it would be premature to assume that this indicates an end to the deceleration in commercial real estate prices seen in prior months, and visible in both the sector and regional indices. Interestingly, the Apartment sector reported its second consecutive improvement in its growth rate and a gain that matches the returns of early 2007. However, a few more months of data are needed before a recovery in this sector can be determined."
The S&P/GRA Commercial Real Estate Indices are published on the second to last Tuesday of each month at
To be eligible for inclusion, property sales must be identified as closed transactions in the defined commercial real estate regions and sectors. Closed commercial transactions are those where the escrow has closed and the title has been transferred to the new owner. There are no transactions included in the index that are appraisals, just listed, sales pending, or in escrow.
The indices are maintained and published under agreements between Standard & Poor's and GRA/Charles Schwab Investment Management (CSIM).
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.
SOURCE Standard & Poor's
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