New Report from NAR Shows Mixed Commercial Picture
December 21, 2007 by Paul Cauchi commentThe National Association of REALTORS recently released its quarterly Commercial Real Estate Outlook (CREO) and it shows a mixed picture. While it shows the commercial market slowing down, it is not as severe as some expected. In addition, the weak US dollar is making real estate less expensive for most foreign investors and new building has declined in some sectors keeping suply down.
Miami, like most of the country, is an good example of the mixed picture. For example, while the industrial market in Miami has the eight lowest vacancy rate national with a rate of 7.1%, it is still up from the 5.9% seen in the third quarter.
The strongest sector in Miami appears to be the retail sector with a vacancy rate of 6.0%; this is 2.9% points lower than the national average. To access the full 18 page report click HERE and download the report with your NAR password.
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