Moody's Report Ranks Raleigh Property Market Dead Last
from the Triangle Business Journal

Raleigh received the lowest overall average score of any market in the United States in Moody's Investors Services' latest quarterly assessment of U.S. property markets.

The report analyzes individual commercial real estate markets that are home to the collateral supporting commercial mortgage backed securities. Each market for each property type - including office, multifamily, industrial and retail - is scored on a scale of zero to 100, with zero being the weakest and 100 being the strongest.

Raleigh's average score of all property types was 33, the lowest of any market ranked by Moody's. Denver was next to last with a score of 35. Milwaukee had the top score at 88, but it was not really an average since information for only one property type was available for the market.

Moody's did not have data available for Raleigh's industrial and retail markets either, said Sally Gordon, a vice president and senior credit officer. Therefore, Raleigh was only scored in the office and multi-family markets.

Markets with scores from 67 to 100 are generally considered healthy. Raleigh had a score of 46 in multi-family - a score that Moody's says means the market warrants monitoring . Raleigh received a score of 20 for office, which Moody's says is an indication the market is under stress.