US DATA: NAR Q3 comml real estate forecast says “Positive
underlying fundamentals continue to support all of the major commercial
real estate sectors, but a slowdown in job creation and ongoing tight
loan availability has tempered growth in some areas” so there are mixed
results among sectors. Sees “moderating demand in the office sector,”
“Industrial and warehouse space is holding on better because imports and
exports have advanced.” Also, “dampened demand is slightly moderating
rent growth with the exception of the multifamily market. Sharply higher
demand for apartments is causing rents to rise at faster rates.” Not
seeing oversupply of new construction. Office Markets Vacancy rates in
the office sector are expected to fall from an estimated 16.1 percent in
the third quarter to 15.6 percent in the third quarter of 2013. The
markets with the lowest office vacancy rates presently are Washington,
D.C., with a vacancy rate of 9.4 percent; New York City, at 10.0
percent; and New Orleans, 12.8 percent. Office rent is projected to
increase 2.0 percent this year and 2.6 percent in 2013.
Featured Videos