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Commercial Real Estate Outlook

February 25, 2016



NAR’s latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.


  • The National Association of REALTORS® Commercial Real Estate Outlook: 2016.Q1 report focuses on market performance in both large (LCRE) and small commercial (SCRE) sectors. The report provides an overview of economic indicators, investment sales and leasing fundamentals.
  • U.S. macroeconomic momentum dropped during the fourth quarter of 2015, buffeted by global economic slowdown and financial volatility.
  • Business investments took a step back, and the strong dollar impacted net exports. Payroll employment offered a bright spot, closing the year with a total of 2.7 million net new jobs, boosted by private service industries.
  • Rising employment drove demand for commercial space across the property spectrum.
  • Vacancies continued declining in the fourth quarter of 2015, as rising rents improved cash flows.