The recovery in the commercial real estate market that started in the second half of 2021 is continuing into the first quarter of 2022. All core commercial sectors ―multifamily, office, industrial, and retail ―experienced net positive absorption during the last three months through February.
Nationally, the multifamily and industrial property markets are experiencing phenomenal growth.
Commercial real estate is showing a stronger recovery! Sustained job creation, more consumer spending, and the continuing return of the workforce to the office underpinned the commercial real estate’s recovery across all property sectors in the first half of 2021.
The commercial real estate market is recovering but remains weak compared to conditions before the COVID-19 pandemic.
The 2020 Q4 Commercial Real Estate Quarterly Market Survey of REALTORS® reveals that the commercial real estate market continues to recover, but sales, leasing, and construction activity remain below year-ago levels.