NEW YORK, June 19 (Reuters) - Commercial real estate prices in April posted their first annual declines in at least eight years, according to Moody's Investors Service.

Prices on properties such as office buildings, retail properties and apartment complexes fell 2.8 percent in the month from April 2007, Moody's said in a statement. Moody's index showed commercial property prices fell 3 percent from March to April, the most since the rating company's data series begins in 2000.

Such cracks in the market for commercial real estate have turned investors more cautious to the assets despite still low rates of delinquency. Bonds backed by the properties, known as commercial mortgage-backed securities, were battered through March of this year amid the concerns and a broader investor pullback from risky securities.

Commercial properties as measured by Moody's index have increased 9.1 percent over the last two years, suggesting most borrowers still have equity. (Reporting by Al Yoon)