\n<\/div><\/div>\n<\/div>\n<\/div>\n

NAR ranked five Gulf and Atlantic coastal cities in Fla. as strongest in the U.S. based on all commercial market segments and a range of indicators.<\/span><\/span><\/p>\n<\/div>\n

CHICAGO \u2013 Florida boasts five of the top 10 markets with the strongest commercial markets \u2013 a ranking that includes the apartment, office, industrial, retail and hotel sectors \u2013 according to the National Association of Realtors\u00ae (NAR) Commercial Market Conditions Index rankings for the second quarter of 2021.<\/span><\/span><\/p>\n

NAR\u2019s index measures a metro area\u2019s economic and demographic conditions (e.g., employment, wage growth, population growth, etc.), as well as several commercial market indicators (e.g., vacancy rates, rents, leasing, inventory, sales volume, etc.).<\/span><\/span><\/p>\n

NAR\u2019s top 10 metros with the strongest commercial markets in 2Q<\/span><\/span><\/p>\n

Las Vegas<\/span><\/span><\/li>\n
Cape Coral Fort-Myers<\/strong><\/span><\/span><\/li>\n
Port St. Lucie<\/strong><\/span><\/span><\/li>\n
Nashville<\/span><\/span><\/li>\n
Raleigh, N.C.<\/span><\/span><\/li>\n
North Point-Sarasota-Bradenton<\/strong><\/span><\/span><\/li>\n
West Palm Beach-Boca Raton-Delray Beach<\/strong><\/span><\/span><\/li>\n
Punta Gorda<\/strong><\/span><\/span><\/li>\n
Spokane-Spokane Valley, Wash.<\/span><\/span><\/li>\n
Olympia-Tumwater, Wash.<\/span><\/span><\/li>\n<\/ul>\n
In 2020, Cape Coral added 18,500 people moving to its metro area, prompting higher demand for apartments. The area also has seen demand for office and industrial spaces increase over the past year. Cape Coral has absorbed 966,000 square feet of retail space, \u201cwhich speaks to the robust demand for retail brick-and-mortar real estate,\u201d writes Gay Cororaton, a research economist for NAR, in the association\u2019s \u201cEconomists\u2019 Outlook\u201d blog.<\/span><\/span><\/p>\n
Affordable home prices and job growth drive migration to Florida and help lift its commercial markets. Over the past year, it\u2019s had one of the highest domestic net migrations in the nation. Also, Florida offers tax credits that have been drawing new businesses to the area, such as through its Qualified Target Industry Tax Refund Program.<\/span><\/span><\/p>\n
\u201cFlorida\u2019s commercial outlook is bright because of the strong migration into the area, which is driving the demand for multifamily properties, office space and retail,\u201d Cororaton writes. \u201cThe sustained growth in e-commerce will continue to also fuel the demand for industrial space in Florida\u2019s coastal metro markets, both in the East and West coastlines.\u201d<\/span><\/span><\/p>\n
However, Cororaton notes that Florida is now also competing with other southern states in attracting jobs and new residents, especially from North Carolina, Georgia, Tennessee, Texas, Arizona and New Mexico, as well as affordable Midwest states like Kansas and Indianapolis.<\/span><\/span><\/p>\n
Source: \u201cFlorida Has Five of Top 10 Strongest Commercial Markets in 2021 Q2,\u201d National Association of REALTORS\u00ae Economists\u2019 Outlook blog (Sept. 3, 2021)<\/span><\/span><\/p>\n
\u00a9 Copyright 2021 INFORMATION INC., Bethesda, MD (301) 215-4688<\/span><\/span><\/p>\n<\/div><\/div>\n
Go to Source<\/a>
\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"
NAR ranked five Gulf and Atlantic coastal cities in Fla. as strongest in the U.S. based on all commercial market segments and a range of indicators. CHICAGO \u2013 Florida boasts five of the top 10 markets with the strongest commercial markets \u2013 a ranking that includes the apartment, office, industrial, retail and hotel sectors \u2013 according to the National Association of Realtors\u00ae (NAR) Commercial Market Conditions Index rankings for the second quarter of 2021. NAR\u2019s index measures a metro area\u2019s economic and demographic conditions (e.g., employment, wage growth, population growth, etc.), as well as several commercial market indicators (e.g., vacancy rates, rents, leasing, inventory, sales volume, etc.). NAR\u2019s top 10 metros with the strongest commercial markets in 2Q Las Vegas Cape Coral Fort-Myers Port St. Lucie Nashville Raleigh, N.C. North Point-Sarasota-Bradenton West Palm Beach-Boca Raton-Delray Beach Punta Gorda Spokane-Spokane Valley, Wash. Olympia-Tumwater, Wash. In 2020, Cape Coral added 18,500 people moving to its metro area, prompting higher demand for apartments. The area also has seen demand for office and industrial spaces increase over the past year. Cape Coral has absorbed 966,000 square feet of retail space, \u201cwhich speaks to the robust demand for retail brick-and-mortar real estate,\u201d writes Gay Cororaton, a research economist for NAR, in the association\u2019s \u201cEconomists\u2019 Outlook\u201d blog. Affordable home prices and job growth drive migration to Florida and help lift its commercial markets. Over the past year, it\u2019s had one of the highest domestic net migrations in the nation. Also, Florida offers tax credits that have been drawing new businesses to the area, such as through its Qualified Target Industry Tax Refund Program. \u201cFlorida\u2019s commercial outlook is bright because of the strong migration into the area, which is driving the demand for multifamily properties, office space and retail,\u201d Cororaton writes. \u201cThe sustained growth in e-commerce will continue to also fuel the demand for industrial space in Florida\u2019s coastal metro markets, both in the East and West coastlines.\u201d However, Cororaton notes that Florida is now also competing with other southern states in attracting jobs and new residents, especially from North Carolina, Georgia, Tennessee, Texas, Arizona and New Mexico, as well as affordable Midwest states like Kansas and Indianapolis. Source: \u201cFlorida Has Five of Top 10 Strongest Commercial Markets in 2021 Q2,\u201d National Association of REALTORS\u00ae Economists\u2019 Outlook blog (Sept. 3, 2021) \u00a9 Copyright 2021 INFORMATION INC., Bethesda, MD (301) 215-4688 Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":5566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5565"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=5565"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/5565\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/5566"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=5565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=5565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=5565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}