Commercial real estate prices fell 1.7% in March and they are down 20.8% from year-ago levels, according to a measure of property prices published by Moody’s Investors Service on Tuesday.

Moody’s REAL Commercial Property Price Indices showed that March prices of properties such as office buildings, malls and apartment buildings are off 22.8% from a peak in October 2007. Sales volumes too have dropped dramatically. According to Moody’s, commercial real estate sales volumes were off 75% to 80% in March from year-ago levels.

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