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The worst may be over for commercial real estate, according to Moody's Investors Service. Based on its quarterly Red-Yellow-Green report, both multifamily and shopping centers are expected to perform well over the next year, the hotel sector is strengthening, while office buildings and industrial facilities are holding their own.
"Both the multifamily and shopping center sectors retain green scores of 77 and 74, respectively, and in each of these sectors more than one-half of the markets are green," said Sally Gordon, Moody's analyst and author of the report.
Markets are scored on a scale of 0 to 100, with 100 being the strongest, and described in traffic light colors, with scores of 0-33 identified as red, 33-66 as yellow and 67-100 green. The current score, based on data through the third quarter 2003, is intended to be forward looking over roughly the next one-year horizon.
In this report, Moody's introduces two changes that ...