The Moody's CPPI index declined .5% in March. The index appeared to be less influenced by distressed sales than the previous reading - perhaps indicating that sellers were more willing to part to with assets at lower valuations. It is important to note that the volume of transactions measured has increased greatly from February. The number of transactions essentially doubled and the value tripled. It will be interesting to see how the index preforms as several of the recent strong sales comps in Washington and New York are incorporated.