I read the term trifurcation in this post on Calculated Risk, which was referencing CoStar's commercial repeat sales index, which dropped in November, erasing a portion of the gains seen the previous three months. I had not heard this term before. The commercial real estate market is strong for trophy properties in major markets, weak for smaller assets, especially those in secondary and tertiary markets, and then there are the distressed properties that are coming onto the market. The post stats that there have been few commercial transactions, and the prices have been volatile. It is difficult to make sense of any month-to-month change in commercial real estate prices. I do think it important note that commercial real estate prices are up over 7% since their low earlier this year.