April 22, 2024 11:07 pm
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Commercial sectors to eke out modest growth

Lawrence Yun deliver his outlook for commercial real estate sectors at the REALTORS® Conference & Expo in Orlando, Fla., on Friday./REALTORMag
Lawrence Yun deliver his outlook for commercial real estate sectors at the REALTORS® Conference & Expo in Orlando, Fla., on Friday./REALTORMag

By Robert Freedman, REALTOR® Magazine

Multifamily and industrial properties will continue to lead growth among commercial real estate sectors as the economy makes moderate gains through the end of the year and into 2017, NAR Chief Economist Lawrence Yun said at the 2016 REALTORS® Conference & Expo in Orlando on Friday

Speaking at a commercial economic forum, Yun said he expects rental rates in the multifamily sector to rise a modest 3 percent a year through 2018, fueled by young households who see solid job growth but aren’t yet ready to buy. Industrial properties — already one of the strongest sectors — are expected to see solid 4 percent growth in rental rates and little change in vacancies over the next two years.

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