Commercial property values in the U.S. declined in October to the lowest level since 2002 as unemployment cut demand for apartments, offices and retail space.

The Moody's/REAL commercial property price indexes, released Monday, fell 1.5% in October from September. Prices fell 36% from a year earlier and were 44% below the peak in October 2007.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.