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Slowdown Impacts Real Estate Markets, But Improvements Seen

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Staff Writer |

WASHINGTON — Commercial real estate vacancy rates are flat and projections for growth have been moderated because economic growth and job creation have been weaker than expected, but modest improvements are expected over the coming year, according to the National Association of Realtors®. The weakening economy will slow the growth in demand for space, says Chief Economist Lawrence Yun.

Looking at vacancy rates from the third quarter of this year to the third quarter of 2012, NAR forecasts vacancies to decline 0.3 percentage point in the office sector, 0.6 point in industrial real estate, 0.7 point in the retail sector and 0.9 percentage point in the multifamily rental market.

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