Commercial Real Estate Shows Some Slowdown Nationally
July 23, 2008 by Paul Cauchi commentThe latest report by the National Association of REALTORS confirms that the current tightened credit markets have had an impact on the commercial real estate industry.
Investment in commercial real estate during the first four months of 2008 was $48.2 billion, down 69.5 percent from $157.8 billion during the same period in 2007 when the financial and credit markets were running smoother.
Vacancy rates in the office markets, for example, are expected to rise nationally to 13.7 percent in the fourth quarter of this year from 12.5 percent in the fourth quarter of 2007. While overall vacancy rates in the industrial sector are projected to rise to 9.9 percent in the fourth quarter of this year an increase from 9.4 percent in the same period of 2007
These are just two examples in a new detailed report that also covers the Miami and South Florida markets. Click HERE to access the reports.
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