The latest National Association of Realtors quarterly commercial real estate forecast indicates that all major commercial real estate sectors are seeing improved fundamentals.
Lawrence Yun, NAR chief economist, said vacancy rates are improving in all of the major commercial real estate sectors. "Sustained job creation is benefiting commercial real estate sectors by increasing demand for space," he said. "Vacancy rates are steadily falling. Leasing is on the rise and rents are showing signs of strengthening, especially in the apartment market where rents are rising the fastest."
The rental market has undergone some dramatic changes since the real estate bubble burst several years ago. Recession conditions and continued lagging in the economic recovery have led to more renters and subsequently rising rental rates.
Read more...Realty Times - Commercial Real Estate Forecasted to Improve
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