Data from Standard & Poor's S&P/GRA Commercial Real Estate Indices shows that prices on commercial properties rose in August. The National Composite index was up 1.1% for the month and 6.2% for the 12-month period. You can find information on the indices here.
That's more optimistic than data from Moody's and the MIT Center for Real Estate that came out earlier this month. However, S&P's report is based on older data. And even with the announcement, David Blitzer, Managing Director and Chairman of the Index Committee at S&P, noted that that commercial property price indexes were continuing their deceleration from an August 2006 peak.
More recent data from Real Capital Analytics shows that deal volume has dropped dramatically in the past couple of months. Volume on significant office properties ($5 million or more) was down 70 percent in October compared with the same month last year. Volume on significant retail properties was down 50 percent in both September and October.