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NAR Economic Research
April 2009 Survey Results
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
www.realtor.org/research/research/cre_market_survey
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Survey Highlights
The REALTORS® Commercial Real Estate Market Survey measures activity in the commercial real estate markets. The
survey collects data from commercial Realtors®. The survey is designed to provide member Realtors® with an overview
of the market performance, sales and rental transactions, current economic challenges and future expectations. The
questions are designed to capture the effects of the existing economic conditions on the commercial real estate business.
Each quarter, participants respond to questions regarding the current demand for commercial properties, price, cap rates,
rental concessions and other economic conditions.
APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
55.58
44.42
No
Yes
Do you specialize in a specific property type?
2.26
14.48
9.95
16.29
21.72
18.55
16.74
REALTOR® Specialties
Hotel
Industrial
Land
Multi-family
Office
Other, please specify
Retail
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NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
4%
4%
15%
15%
21%
41%
Over $10 M
Between $5 M and $10 M
$2 M and $5 M
Between $1 M and $2 M
Between $500K and $1 M
Under $500K
What was the dollar amount of your last transaction?
1%
2%
20%
77%
Over 100,000 sq feet
Between 50,000 and 99,999 sqf eet
Between 10,000 and 49,999 sq feet
Under 10,000 sq feet
Avgerage rental space demanded during last transaction
APRIL 2009
Commercial Real Estate
MARKET SURVEY
7.22
21.86
70.93
REALTORS® Commercial Real Estate Transactions
Property Management
Rentals
Sales
43.79
4.6816.09
25.25
10.18
What are your market's biggest current challenges?
Financing
Inventory
Local Economy
National Economy
Other, please specify
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REALTORS® Commercial Activity as of the First Quarter 2009
Sales Volume Compared with Previous Quarter Down 11%
Sales Volume Compared with Previous Year Down 26%
Sales Prices Compared with Previous Quarter Down 8%
Sales Prices Compared with Previous Year Down 15%
Cap Rates Compared with Previous Year Up 2%
Expected Availability for the Next 12 Months Up 13%
Expected Cap Rate Movement for the Next 12 Months Up 2%
Rental Volume Compared with Previous Quarter – down 9% Down 7%
Rental Rates Compared with Previous Quarter Down 8%
Rental Vacancy Rate Compared with Previous Quarter Up 6%
Level of Rent Concessions Compared with Previous Quarter Up11%
Direction of Business Opportunities Compared with Previous Quarter Down 3%
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
APRIL 2009
Commercial Real Estate
MARKET SURVEY
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS
®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS
®
The Voice for Real Estate ®
8/11/2019 2009 Q1 Commercial Real Estate Market Survey
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS
®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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APRIL 2009
Commercial Real Estate
MARKET SURVEY
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
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NAR Research also provides analysis of monthly economic indicators, such as GDP
and employment data that clearly impact commercial markets over time.
If you have questions or comments regarding this report or any other commercial real
estate research, please contact George Ratiu, NAR Economist, at (202) 383-1081 or
Although the information presented in this survey has been obtained from reliablesources, NAR does not guarantee its accuracy, and such information may be
incomplete. This report is for information purposes only.
Copyright© 2009 NATIONAL ASSOCIATION OF REALTORS®. Reproduction,
reprinting or retransmission in any form is prohibited without written permission. For
questions regarding this matter please e-mail [email protected].
THE NATIONAL ASSOCIATION OF REALTORS®, “The Voice for Real Estate,” is
America’s largest trade association, representing 1.2 million members involved in allaspects of the residential and commercial real estate industries..
NATIONAL ASSOCIATION OF REALTORS®
The Voice for Real Estate ®
APRIL 2009
Commercial Real Estate
MARKET SURVEY
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