09:27:30 pm on February 22, 2007 |
The outlook for the commercial real estate market continues to look good for 2007, according to several different organizations, which have looked at the data and surveyed developers and brokers.
A forward looking index for the commercial real estate market, the Commercial Leading Indicator for Brokerage Activity, increased for seven consecutive quarters and has held at the highest level on record, according to the National Association of Realtors. The indicator rose 0.1 percent in the fourth quarter to a level of 120.1 from an index of 120.0 in the third quarter, and is 1.8 percent above the fourth quarter of 2005, when it stood at 118.1.
In another report, despite an unprecedented run-up in the price of real estate assets and signs that job growth is slowing, a majority of investors still plan to increase their commercial real estate holdings in 2007, according to the results of a survey conducted jointly by National Real Estate Investor and Marcus & Millichap Real Estate Investment Brokerage Co.Advertisements