In the month of March, prices for commercial real estate fell more than 2 percent, Moody's reported on Monday.

From the period of February to March, Moody's REAL Commercial Property Price Indices fell 2.3%, representing the largest one-month decline since the birth of the index. However, prices are up 0.9% since last March.

As it has become tougher to borrow money to buy property, the decline should be at least somewhat expected.

Retail property prices experienced the biggest drop, but prices on offices, apartments, and industrial property also fell.