Commercial real estate will continue moving in an upward trajectory for the next few months, but at a sluggish pace, mainly due to meek job creation and tight loan underwriting, according to the National Association of Realtors’ quarterly commercial real estate forecast.
“With the general slowdown in national economic conditions, and especially weak employment trends, commercial real estate is following the broader trends,” George Ratiu, NAR’s manager of quantitative and commercial research, told Commercial Property Executive. “Since demand for office and retail spaces is directly correlated to employment data, lack of new jobs translates into less absorption of space, accompanied by softer rent growth and lingering vacancies.”
Read more...NAR: Commercial Real Estate Healing Slowly | Commercial Property Executive
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