Aug
31
NAR Forecasts Slow, Upward Path for CRE
ByA boost in employment, coupled with high demand for multifamily housing, is helping keep CRE vacancy rates down.
Lawrence Yun – NAR
New York—The creation of more jobs and continued demand for multifamily housing is helping keep commercial real estate fundamentals on a slow, upward path where vacancy rates for office, industrial and retail are expected to decline over the next year, according to the National Association of Realtors quarterly CRE forecast.
The NAR expects national office rates to fall 1.5 percent to 10.4 percent over the coming year, when rising employment should boost demand. The vacancy rate for industrial space is forecast to decline 0.7 percent to 8.7 percent, while retail vacancy should also decrease 1.0 percent to 10.5, the report projects…
