Costs have tripled in the past four months, adding more than $18,600 to the price of a new home.
The nation’s outdated or empty offices could be ripe for residential conversion.
Strong investment acquisitions in 2021 puts the commercial market on pace for sustained demand in 2022, NAR says.
A growing number of investors seem less deterred by high prices, jumping on opportunities from demand for rentals.
“Power shopping centers” and neighborhood stores are seeing strong demand, according to NAR data.
About 730,000 retail, office, and multiunit residential properties could incur $13.5 billion in damages next year.
Offices of the future may not center around a corporate headquarters.
E-commerce is driving the trend; digital businesses are relying on physical stores for easier shipping and customer pick-ups or returns.
Aspiring owners are building up their portfolio of properties as they take notice of rising housing and rental prices.
Products like windows shower doors are in short supply, adding to the growing shortages of materials and products in homebuilding.
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