08/26/2014
Solid economic growth and sustained job market gains are translating into recovery in the commercial property markets. The apartment sector continues to thrive despite increasing deliveries of new units, as job growth has spurred the formation of new rental households, boosting demand for apartments. The office and retail sectors have been slower to reflect the improving macroeconomic fundamentals, however, as vacancy rates remain elevated and rent growth is more moderate. The recent gains in labor markets, however, are likely to translate into better conditions in property market before long. For more information, see Commercial Property Update 2014:Q2.