Lawrence Yun, NAR’s Chief Economist, recently presented an overview of U.S. commercial real estate as part of the 2023 REALTORS Legislative Meetings. He projected that the performance of CRE markets will vary across the country but those with strong job gains will naturally hold on much better, CLICK ON THE HEADLINE FOR MORE
2023 cre outlook
According to the global chief economist for CBRE, high interest rates will make 2023 a challenging year for commercial real estate. Still, he doesn’t predict a deep recession leaving an optimistic CRE outlook for the year ahead.
Although other major CRE markets in the U.S. are struggling with rising inflation and interest rates, South Florida’s industrial, office and retail sectors are holding steady thanks to low vacancy rates, rising average asking rents and bountiful sales volume. CLICK ON THE HEADLINE FOR MORE