Commercial & Investment Research

Commercial Real Estate Outlook

The Commercial Real Estate Outlook (CREO) is NAR's flagship commercial research publication. It is produced quarterly and includes the latest market information on five major commercial real estate sectors — industrial, office, multi-family, retail and hospitality real estate. The publication includes national and metropolitan data from the respected research firms of Torto Wheaton and Real Capital Analytics, along with in-depth analysis from NAR Research. The full report is available only to NAR members, and the summary report is open to all visitors.

News Release

August 19, 2009: Decline in Commercial Real Estate Sectors Appears to be Slowing

Forecast Table

CREO Summary: Third Quarter 2009

Commercial real estate closed the first half of the year with weakened fundamentals and a slow pace of transactions amid difficult economic conditions.  Demand for commercial properties dropped precipitously, bringing down prices and rents.  In addition, maturing commercial debt was met with little available credit, leading to a jump in delinquencies and distressed properties.  As space flooded the market, vacancy rates have been rising across the board.  And while the economic decline is showing signs of a slowdown, commercial real estate continues to face strong headwinds.

Full CREO Issue: Third Quarter 2009

This report includes details on individual markets, vacancy-rate tables and more.

Full CREO Issue > (PDF: 179.81KB)

List of Markets Covered

The Commercial Real Estate Outlook includes statistics on 54 of the nation's largest markets.
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