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Good news for the national real estate market continues to trickle in and this time it is from Bentley Forbes.
In many ways, the U.S. economy is still very much in the recovery phase, following years of tumult and unrest ? but according to the California-based, nationally-focused real estate investment and development firm Bentley Forbes, things are starting to look up for the commercial real estate sector. The company is hardly alone in thinking so; in fact, to illustrate its point, Bentley Forbes points to a recent article from the San Antonio Business Journal, which suggests that, despite ?a sluggish economy and looming legislative and regulatory issues,? the country?s foremost real estate brokers still anticipate positive trends in the commercial sector.
?It is easy to point to the few storm clouds that continue to darken the economic horizon, but the bottom line is that people are getting back to work, and as such interest in retail and office space is increasing,? the company affirms. ?This is to say nothing of continued positivity in the multi-family residential sector. Commercial real estate has had a rocky few years, but the future looks very promising indeed.?
The San Antonio Business Journal report makes note of the most recent Market Trends Report from the Certified Commercial Investment Member Institute and the National Association of Realtors. The report examines the state of various commercial real estate sectors ? including office, industrial retail, and multi-family ? as of the first quarter of 2013, and generally speaking, the tenor is highly optimistic.
Indeed, one of the most important points made in the study is that commercial real estate transactions seem to be increasing; 53 percent of those surveyed say that they had more transactions in 2012 than they did in 2011. The study also notes that those transactions were driven by buyers more than by sellers.
Meanwhile, some 50 percent of those who participated in the survey claim that commercial real estate prices are similar to those from last year; 30 percent say that prices are actually higher. Rents are stable-to-rising, too, with 40 percent of those surveyed saying that rents in 2013 are similar to in recent years, and 32 percent saying they are higher.
?It is clear that there is an increased level of optimism in this industry, which is good news for all of us,? concludes Bentley Forbes
Source: http://journalrecord.com/2013/05/14/blog-optimism-for-national-commercial-real-estate-market/
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