Commercial Markets Stabilize in First Quarter 2012

Commercial real estate in REALTOR® markets recorded broader stabilization trends during the first quarter of 2012. Based on the results of the April Commercial Real Estate Market Survey, overall market activity registered slight improvements compared with the fourth quarter 2011.

On the leasing side, activity rose one percent over the previous quarter. Vacancies declined for most core properties, leading to a lower level of rent concessions. The decline in rental rates also slowed, indicating markets in recovery. The majority of respondents indicated that tenants continue to seek smaller commercial spaces—there was an increase in demand for space in the 2,500-4,999 square feet.

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