National Association of Realtors Chief Economist Lawrence Yun expects the commercial market to perform well despite the headwinds, especially in the short term.
During the 2022 REALTORS® Legislative Meetings’ Commercial Economic Issues and Trends Forum(link is external), Yun explained that while the commercial market generally follows the overall economy, some things are different this time.
“Outside of the office sector, which is lagging behind as employers allow increased remote work flexibility to keep and attract talent, commercial real estate continues to strengthen,” Yun said. “The industrial sector is booming, retail is turning positive, the hotel industry is recovering, apartments are doing very well, and rents are rising in all commercial sectors.”
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