24
Feb

NAR Optimistic about Commercial Market, "A Landlord’s Market"

Posted To: MND NewsWire

Multi-family rentals are leading the recovery in the commercial real estate market, becoming what the National Association of Realtors® (NAR) calls “a landlord’s market commanding bigger rent increases.” NAR, in its quarterly commercial real estate forecast said that all of the major commercial real estate sectors are seeing improved fundamentals, but seems most bullish about the multi-family sector. NAR is projecting that vacancies in the apartment rental market is likely to drop from 4.7 percent in the first quarter of 2012 to 4.5 percent in the first quarter of 2013. Multifamily vacancy rates below 5 percent are generally considered to indicate a landord’s market with demand justifying higher rents. Rents did increase an average of 2.2 percent last year and are expected to rise 3.8 percent…(read more)

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