Moodys/REAL Commercial Property Price Index (CPPI) and Transactional Based Index (TBI)

Methodology developed at MIT's Center for Real Estate

CPPI Graphs

National Monthy Index

National Quarterly Apartment Index

National Quarterly Industrial Index

National Quarterly Office Index

National Quarterly Retail Index

TBI Graphs

TBI All Properties Price Index

TBI Apartment Properties Price Index

TBI Industrial Properties Price Index

TBI Office Properties Price Index

TBI Retail Properties Price Index

The Moodys/REAL CPPI and the TBI

The Moodys/REAL CPPI index is a complementary information product to the transaction based index (TBI) also published on the MIT/CRE web site. Both the CPPI and the TBI are based purely on transaction price data. The TBI is based on NCREIF property sales prices data, while the CPPI is based on RCA sales prices data. Thus, the TBI is based on a smaller population of more purely institutionally held properties. The TBI is based on a hedonic regression methodology whereas the CPPI is constructed with a repeat-sales methodology. The TBI is published with history going back to 1984 but only at the quarterly frequency, and only at the national level (for the four major property types), whereas the CPPI includes monthly and annual frequencies and more geographic regional break outs. The CPPI is a variable-liquidity price-change (appreciation return) index, while the TBI includes total return and demand and supply-side indexes.

To see MIT's CPPI graphs and get more index information Click Here
To see MIT's TBI graphs and get more TBI information Click Here