Browse Tag: Economic growth

NAR 2012 Commercial Outlook: Vacancies Down, Rentals Rise Expected

NAR Commercial February 2012 forecast excerptReleased today was the February 2012 edition of Commercial Real Estate Outlook from NAR Commercial. Among the tables and graphs, report author George Ratiu, Manager of NAR Commercial Research sees a 2 to 3 percent general economic recovery rate and reports two CRE findings:

Vacancies were down 1Q 2012 

Beyond the decline in vacancies, job growth is a key driver of the demand for commercial space. Economists are forecasting a an increase in payroll jobs in the neighborhood of 2 to 2.5 million for the next two years based on GDP growth in the 2 to 3 percent range. A continued recovery for the commercial sector is projected in NAR’s February edition of the Commercial Real Estate Outlook.

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Economic Risks Look Set to Stall the U.S. Office Market Recovery

Thank you to Ross Moore, Chief Economist at Colliers International for contributing this blog post today.

The U.S. office market looks set to finish the year on a more cautious note than earlier in 2011 and halt what had been a modest recovery characterized by a measured degree of optimism and a series of occupancy gains. A clear deceleration in economic activity and a near absence of job creation, however, has cast a shadow over the office space market. With the economy possibly coming close to stall speed, the outlook for the office space market has once again been called into question.

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