In one year, commercial real estate has seen both a drop in prices and a doubling up in delinquency rates, research analytics firms tracking the market find. Price values are down to nearly half the levels seen at the peak of the market, while the risk of default is rising and the commercial real estate foreclosure book continues to add pages.

National property prices on commercial real estate dropped 9.1% in June from last year, according to Moody's commercial property price index. The rate declined 0.9% over the first half of 2010, and while prices remain 4.2% above the current recession low of October, they are down 41.4% from the peak in October 2007.