Steady Improvement Predicted for Commercial Market

The commercial market is expected to see improvement in the near future according to NAR's Chief Economist Lawrence Yun in the Realtor.org article "Steady Improvement Predicted for Commercial Market". 

Yun commented he has seen progress towards a recovery in the commercial market but stated the market still faces many challenges.  He points out:

• Banks are at a profitable level again but are still selective as to who they lend to.
• Job creation is improving, however, more needs to happen to have a bigger impact on vacancy.
• Corporate profits have returned to normal levels but businesses are still not spending due to their uncertainty of the future.

With the commercial market continuing its steady upturn, Yun predicts rent stabilization and positive net absorption for 2011.