Commercial Digest, October, 2021

Instant Reaction: Housing Starts, September 21, 2021 Total housing starts and housing permits made decent gains in August compared to the month prior, but the focus was on multifamily units. By: Lawrence Yun Original source: https://www.nar.realtor/blogs/economists-outlook/instant-reaction-housing-starts-september-21-2021

Renter Demand Shifts Toward Class B/C Apartments The apartment vacancy rate has fallen to a decade low of 4.5%, and the asking rent has soared to a historic high of 10.5%. By: Scholastica (Gay) Cororaton Commercial & Investment Real Estate, Rental Properties Original source: https://www.nar.realtor/blogs/economists-outlook/commercial-weekly-renter-demand-shifts-toward-more-affordable-and-suburban-class-bc-apartments

Retail Vacancy Rates at Lowest Levels Since Q2 2020 With people returning to physical stores and food and drinking places, demand for retail space in Q2 2021 exceeded pre-pandemic peak levels. By: Brandon Hardin Retail Properties Original source: https://www.nar.realtor/blogs/economists-outlook/commercial-weekly-retail-vacancy-rates-at-lowest-levels-since-q2-2020

Join NAR’s Rodney Gansho, Charlie Lee, and industry experts on the latest and greatest that is happening with RPR®, CMLS, realtor.com®, and RESO. Original source: https://www.nar.realtor/videos/the-mls-hour/the-mls-hour-2021-realtors-conference-and-expo-industry-update

Instant Reaction: Jobs, November 5, 2021 Since coming out of lockdown 18 million jobs have been created, but total jobs are still 4 million below the pre-COVID-19 level. By:  Lawrence Yun Original source: https://www.nar.realtor/blogs/economists-outlook/instant-reaction-jobs-november-5-2021