Commercial Real Estate Outlook

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NAR's latest Commercial Real Estate Outlook offers overall projections for four major commercial sectors and analyzes quarterly data in the office, industrial, retail and multifamily markets.


  • Commercial real estate in SCRE markets continued to experience advances in investment sales, as the momentum picked up in the final quarter of the year.
  • The bifurcation in investment trends continued along valuation lines. However, even in LCRE markets, trends proved more nuanced.
  • Commercial leasing fundamentals remain poised for expansion this year, boosted by an expanding economy, employment and the tax reform.
  • Vacancy rates are projected to continue their decline, except for multifamily properties, where rising new supply is putting downward pressure on rents.