Commercial real estate prices are still around 2002 levels and in a sideways channel (3-months delayed). The Moodys/REAL Commercial Property Price Index (CPPI) rose 1.3% to 1.11 in October 2010 (month/month), but it's still down 42% from the 2007 peak (1.91). The index started at 1.0 in year 2000. Find apartment, industrial, office and retail property price indexes at web.mit.edu. Apartments have outperformed all segments. MIT also has a "Transactions-Based Index (TBI)" that uses data from NCREIF.