This quarterly report combines and replaces the Commercial Real Estate Market Survey and the Commercial Real Estate Outlook. It focuses on commercial transactions of REALTORS® and affiliate members, and opportunities and challenges facing commercial practitioners.
Recent
The commercial real estate market is recovering but remains weak compared to conditions before the COVID-19 pandemic.
The commercial real estate market continues to recover, but sales, leasing, and construction activity remain below year-ago levels.
REALTORS® reported a decline in sales and leasing transactions, except for industrial properties, clearly the strongest leg of the commercial sector. The land market has also been a strong sector, especially sales of land for recreational use, as the pandemic has curtailed leisure activities in the urban areas.
NAR’s Quarterly Market Survey gathers information about the commercial transactions of REALTORS® and members of affiliate organizations (CCIM, SIOR, RLI, IREM, and the Counselors of Real Estate) and the opportunities and challenges facing commercial practitioners.
NAR’s Quarterly Market Survey for April 2020 gathers information about the commercial transactions of REALTORS® and members of affiliate organizations and the opportunities and challenges facing commercial practitioners.
Survey respondents reported commercial dollar sales volume rose 4% in 2019 Q4 from one year ago, new leasing dollar volume rose 3%, and commercial development (in square feet) rose 5%.
In both large and small commercial markets, commercial prices continued to ratchet up as of 2019 Q2, with price gains from one year ago, based on price indices reported by the National Council of Real Estate Investment Fiduciaries (8%), Federal Reserve Board (4%), and Green Street Advisors Price Index(2%).
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