May’s Commercial Real Estate Outlook report reveals signs that commercial real estate markets are stabilizing, and job creation is boosting demand for commercial space. The economy should add between 1.5 million and 2 million jobs annually in 2011 and 2012, with the unemployment rate falling to 8 percent by the end of next year. More >
commercial space
Commercial Stabilizing, But Rents to Stay Soft
A stabilization trend is taking place in commercial real estate sectors, but in most markets rent will remain soft except for multifamily rentals. “Very limited construction of new commercial real estate over the past few years has essentially fixed the supply of available space,” says Lawrence Yun, NAR chief economist. “This means vacancy rates could fall quickly from any increase in demand for commercial space.”
