Vacancies Seen Easing Along with Prices


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Demand for commercial space will “ultimately reawaken” in 2016, Yun says.

WASHINGTON, DC—Vacancy rates will see declines over the next year among the major commercial property sectors aside from multifamily as the economy continues improving, the National Association of Realtors said Tuesday. However, NAR also forecasts prices to dip in 2016 as the Federal Reserve begins increasing interest rates—a move also triggered by an improving economy.

“Temporary turbulence in the financial markets, a stronger US dollar hurting exports and economic weakness overseas chipped away at third-quarter growth and led to some deceleration in the pace of commercial investments,” says Lawrence Yun, NAR’s chief economist. “The good news is that these deterrents are slowly residing, which should ultimately reawaken the growing appetite for commercial space heading into next year.”…

Vacancies Seen Easing Along with Prices

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