Jobs growth in 2011 increased full-time office employment by 327,000 jobs, giving the commercial real estate segment a slight boost, according to a new report from Marcus & Millichap Real Estate Services.
The research firm said the increase in jobs allowed companies to fill empty cubicles, producing a modest gain in demand for new office space. The real estate data firm said rising employment in December capped off the first year of solid job growth since 2005.
Apartments also benefited from improved employment numbers with new rentals increasing and the national apartment vacancy rate falling 120-basis points in 2011 to 5.4%.
Marcus & Millichap said the 20- to 34-year-old-age group prefers renting to homeownership. With this group experiencing more hiring in the past 12 months, the research firm expects to see a continued rise in apartment demand and another 40-basis-point decline in the apartment vacancy rate this year.
The author of this article is: Kerri Panchuk
See the original post at: http://www.housingwire.com/2012/01/09/december-employment-gains-boost-cre-demand-as-firms-expand
At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.
Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.
If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com
December employment gains boost CRE demand as firms expand: News GayRealEstate http://gayrealestate.typepad.com/gayrealestate_usa/2012/01/december-employment-gains-boost-cre-demand-as-firms-expand.html #realtor #realestate
Posted by: Gay Real Estate News ~ GayRealEstate.com | Monday, January 09, 2012 at 11:47 PM