Commercial Real Estate Markets Show Steady, Moderate Growth

Vacancy rates generally are tightening in commercial real estate sectors with modest rent growth, according to the National Association of Realtors® quarterly commercial real estate forecast

 

NAR chief economist said commercial real estate is on a more moderate growth path.  “Office vacancies haven’t declined much because total jobs today are still below that of the pre-recession level in 2007, but rising international trade is boosting demand for warehouse space,” he said.  “Consumer spending has been favorable for the retail market, and rising construction is keeping apartment availability fairly even, though at low vacancy levels.  That, in turn, is pushing apartment rents to rise twice as fast as broad consumer prices and average wage growth.”

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