Commercial real-estate was flat in '10

After tracking the value of commercial real estate for a year, Arizona State University professor of finance and real estate Karl Guntermann said the numbers have barely budged. Guntermann and other analysts weighing in on the commercial real-estate market agreed that 2010 was basically a flat year with the exception of apartment buildings, which have sold to investors in increasing numbers throughout the year. Guntermann, who measures the annual rate of change for both housing and commercial real-estate prices, said there has been essentially no change in the commercial market overall from the third quarter of 2009 to the third quarter of 2010. "After bottoming out at the end of 2009, the commercial index has moved in a narrow range, indicating that commercial prices have stabilized, but at approximately where they were prior to the great expansion," he said.

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