Commercial Market Insights: March 2022

Market Report provided by NAR

The commercial real estate market continued to see rising occupancy, rents, and investor acquisitions in February 2022, with the impact of the Russia-Ukraine war and upswing in interest rates still likely to manifest in the coming months in some commercial segments. In the apartment market, 571,669 units were absorbed in the past 12 months through March 26, outpacing the 404,152 units delivered into the market (supply). The vacancy rate remains at a low 5%, pushing asking rents up 11% year-over-year on average.