NAR says commercial real estate sectors are improving
- May 30, 2012
A quarterly commercial real estate forecast by the Washington, D.C.-based National Association of Realtors (NAR) shows gradual improvements in all major sectors.
Ongoing job creation is fueling a growing demand for commercial real estate space, says Lawrence Yun, chief economist of NAR. He expects 2 million to 2.5 million more jobs this year and next year if a federal budget is passed before the end of the year.
The Washington, D.C., market reported the lowest vacancy rate for office space in the survey, 9.3 percent.