It is not a suprise that commercial sectors of real estate are showing improvement. The commercial market genereally lags behind the residential market. The increases we have seen in the residential market, are begining to be felt in the commercail real estate sectors. It is also no suprise multifamily is hot and vacancies are low. We have seen a strong landlord market for some time. Confusion abouyt the economy,the residential real estate market, tight credit and lack of financing have many people renting as opposed to buying. That is why we have seen so many private and corporate investors buying and then renting properties.
As the economy continues to grow, albiet slower than expected and wanted we will continue to see signs of improvement in the commercial sectors. Newer higher paying jobs are essential for continued growth.