44.3% of California households do not own a home as of 2022Q3. The 2023 commercial real estate outlook indicates there may be challenges ahead. Rental vacancy in Kentucky increased 9.09% in 2021. Between 2005 and 2015, rental vacancy in Alaska increased 23.2%. Homeowner vacancy in Oklahoma is 1.2%, up 71.4% from the previous quarter. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. The statewide rental vacancy rate in Utah is 5.0% as of the end of 2022Q3; thats 16.7% below the national average. Below are the total asset values of commercial real estate properties in Miami per sector. Commercial Metro Market Reports Q3 2022. Rental vacancy in Nebraska declined 25.8% in 2021. 36.2% of Connecticut households do not own a home as of 2022Q3. From 2015 to 2020, Michigans rental vacancy rate decreased 15.7%. Average Vacancy Rate - 4.0% Properties Under Construction 12 Properties 2,433 Units Percent of Inventory - 4.8% Average # of Units - 203 Multi-Family Property Sales (Past 12 Months) Sale Comparables - 33 Avg Price/Unit - $305 K Per Unit Average Price - $31 Million Average Vacancy at Sale - 3.4% Long Island Office Market Report Between 2005 and 2015, rental vacancy in Maryland declined 9.72%. Tulsas rental vacancy rate is 3.3%, down 41.1% YoY. Consequences of the COVID-19 pandemic include changes in desirable housing characteristics. The vacancy rates of shopping center real estate in the United States varied between different cities as of the second quarter of 2020 and 2021. The Charlotte-Concord-Gastonia metropolitan area has a rental vacancy rate of 9.1%, up 56.9% YoY. Between 2022Q2 and 2022Q3, Marylands rental vacancies increased 7.69%. Market Reports. However, while they are both important, they measure different things and can give you additional insights into the market. The statewide rental vacancy rate in Ohio is 4.9% as of the end of 2022Q3; thats 18.3% below the national average. In order to be used. The Louisville-Jefferson County metropolitan statistical area has 5.8% rental vacancy, down 10.8% YoY. 28.5% of Pennsylvania households do not own a home as of 2022Q3. Collection of MarketBeat reports highlighting commercial real estate activity in Salt Lake City. Last Updated: The overall vacancy rate, including sublease, increased 80 bps quarter-over-quarter (QOQ) and increased 140 bps YOY from 17.9% to 19.3% in Q4 2022. . There are over 2.25m commercial real estate businesses in the US (IBISWorld) Industrial real estate statistics. Get full access to all features within our Business Solutions. 30.2% of Nebraska households do not own a home as of 2022Q3. Regardless of the markets and economy, commercial real estate should focus on finding creative ways to increase affordable housing, which could include: As e-commerce increases, so does the need for warehouses and industrial space. 24.4% of Michigan households do not own a home as of 2022Q3. Among the 75 most-populated cities, 53.3% saw increased rental vacancy YoY while 37.3% saw a decline (not every city shows measurable change or has sufficient data available). "Multifamily vacancies hit 4.7% in the third quarter of 2021, reverting back to levels seen at the end of 2019," said Victor Calanog, Head of CRE Economics for Moody's Analytics. Al Brooks, Head of Commercial Real Estate, Commercial Banking. Multifamily is currently the highest performing of all asset classes. The number of continuing claims, which includes those who have already received unemployment benefits for a week or more, also decreased by 37,000 to 1.65 million in the week ended Feb. 11. As soon as this statistic is updated, you will immediately be notified via e-mail. From 2015 to 2020, Connecticuts rental vacancy rate increased 1.79%. Chart. Homeowner vacancy in Tennessee is 0.8%, up 14.3% from the previous quarter. Between 2022Q2 and 2022Q3, Oregons rental vacancies declined 9.09%. Nashville-Davidson-Murfreesboro-Franklin has 6.6% rental vacancy, down 27.5% YoY. Between 2022Q2 and 2022Q3, Mississippis rental vacancies declined 1.23%. Between 2005 and 2015, rental vacancy in Ohio declined 45.8%. 24.8% of Indiana households do not own a home as of 2022Q3. Please create an employee account to be able to mark statistics as favorites. Connecticut rental vacancy is down 51.2% YoY. The drop of 3,000 claims was a surprise to economists, who had predicted an increase to 200,000. The statewide rental vacancy rate in New York is 4.3% as of the end of 2022Q3; thats 28.3% below the national average. Pennsylvania rental vacancy is down 1.85% YoY. From 2015 to 2020, Maines rental vacancy rate declined 53.7%. Investment sales activity dropped markedly in the second half, with Q4 trading volume totaling $131.1 billion, a 62% drop from year-end 2021. Grand Rapids-Wyoming metropolitan area has 3.5% rental vacancy, down 46.2% YoY. Homeowner vacancy in Wyoming is 0.9%, up 50.0% from the previous quarter. From 2015 to 2020, Missouris rental vacancy rate decreased 32.6%. But theres nothing new about commercial real estates cyclical nature. The Providence-Warwick metropolitan area has a 5.5% rental vacancy rate, up 175% YoY. 25.3% of New Hampshire households do not own a home as of 2022Q3. The Dallas-Ft. Worth-Arlington metropolitan area has a vacancy rate of 7.0%, up 12.9% YoY. E-commerces need to get products into consumers hands sooner is whats driving a lot of innovation, Calanog said. 30.3% of South Dakota households do not own a home as of 2022Q3. The rental vacancy rate in principal cities is 6.5% as of 2022 Q3, down 1.52% year-over-year (YoY). Average asking rent: $7.19 per SF per year, net. 28.5% of Utah households do not own a home as of 2022Q3. Between 2022Q2 and 2022Q3, D.C.s rental vacancies declined 9.41%. The combination of the war in Ukraine, market volatility, high inflation and interest rate hikes could make 2023 a challenging year. Major cities will continue to see population decline. Albuquerque has a vacancy rate of 5.2%, down 5.45% YoY. The statewide rental vacancy rate in Arizona is 6.7% as of the end of 2022Q3; thats 11.7% above the national average. Maryland rental vacancy is down 32.3% YoY. 27.0% of Delaware households do not own a home as of 2022Q3. We tend to believe that an increase in vacancy rates is bad news for property owners. Montana rental vacancy is down 34.2% YoY. Outside metropolitan statistical areas, rental vacancy is 7.0%; this is up 9.38% YoY. From 2015 to 2020, Indianas rental vacancy rate declined 18.2%. The Cheyanne metropolitan area had a multifamily rental vacancy rate of 2.9% in 2022Q1, up 93.3% YoY. In major cities where the vacancy rate increased, the average 12-month increase is 146%. San Diego-Carlesbads vacancy rate is 8.4%, up 16.7% YoY. Between 2022Q2 and 2022Q3, Connecticuts rental vacancy rate declined 4.76%. Between 2022Q2 and 2022Q3, Indianas rental vacancy rate increased 1.15%. Between 2005 and 2015, rental vacancy in Louisiana increased 1.15%. In Albuquerque, New Mexico's largest city, the office market has shadowed the trends mentioned above, with rental values decreasing by 0.9 percentage points. Download Full Report. The overall office vacancy rate on the Oklahoma City market was 14.54% in 2021. Between 2022Q2 and 2022Q3, New Hampshires rental vacancies declined 20.0%. Between 2005 and 2015, rental vacancy in Idaho declined 36.6%. In 2015 and 2020, Oregon had a 4.5% rental vacancy rate. From 2015 to 2020, rental vacancy declined 50.8%. From 2015 to 2020, Louisianas rental vacancy rate increased 6.82%. I aminvolved with national pitches and pursuits, leading the quarterly National Retail Report, and educating brokers on an array of retail research tools like Restaurant Bytes and Creditintell. New Hampshire rental vacancy is up 44.0% YoY. Between 2005 and 2015, rental vacancy in Illinois declined 37.5%. "We just hit 95 percent occupancy, which is. Baton Rouge has 6.6% rental vacancy, down 22.4% YoY. Total office inventory: 48,770,948 SF. From 2015 to 2020, Colorados rental vacancy rate increased 2.27%. The Wilmington-Camden-Philadelphia metropolitan area has an average rental vacancy rate of 4.6%, up 76.9% YoY. Miami Office: $44.9B Miami Industrial: $63.3B Miami Multifamily: $67.4B Miami Retail: $60.6B 6) Miami CRE Sales Statistics (Past 12 Months) Miami's commercial real estate market sales in 2022 across the four principal sectors. Office vacancy rates across the country stand at a record 19.1 percent, with Chicago, Houston and San Francisco running above 20 percent, according to Jones Lang LaSalle, a commercial real. Between 2022Q2 and 2022Q3, North Dakotas rental vacancies increased 0.81%. 26.0% of Kentucky households do not own a home as of 2022Q3. Homeowner vacancy in California is 0.9%, up 12.5% from the previous quarter. Alabama rental vacancy is down 25.6% YoY. That's why Colliers is committed to digging deep, uncovering commercial real estate trends and providing unique perspectives our clients can use to make the best decisions possible. The statewide rental vacancy rate in Hawaii is 8.6% as of the end of 2022Q3; thats 43.3% above the national average. Units constructed after March 2010 are the most likely to be empty with a vacancy rate of 11.3%. In the Manchester metropolitan area, the multifamily rental vacancy rate is 2.4% in 2022Q3, up 60.0% YoY. 31.8% of Oklahoma households do not own a home as of 2022Q2. Rental vacancy in North Dakota decreased 5.88% in 2021. Between 2022Q2 and 2022Q3, Kentuckys rental vacancies increased 34.2%. 25.5% of Maine households do not own a home as of 2022Q3. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Single family homes had a rental vacancy rate of 5.8% in 2022 Q3. It is of tremendous value to entrepreneurs, investors, business professionals and . Are you interested in testing our business solutions? Homeowner vacancy in Louisiana is 0.9%, down 18.2% from the previous quarter. Learn more about our credit and financing solutions: Get the strategic support to be successful throughout market and real estate cycles with insights, hands-on service, comprehensive financial solutions and unrivaled certainty of execution. National industrial in-place rents averaged $7.10 per square foot in January, up 6.9% year-over-year The national vacancy rate stood at 4.0%, up 10 basis points month-over-month Nationwide, 691 million square feet of industrial space was under construction Industrial transactions totaled $1.1 billion at an average sale price of $125 per square foot The rental vacancy rate in the District of Columbia is 7.7% as of the end of 2022Q3; thats 28.3% above the national average. Between 2022Q2 and 2022Q3, New Jerseys rental vacancies increased 3.13%. But they can adjust rents annuallysometimes even monthlyto account for market changes. Allentown-Bethlehem has 6.4% rental vacancy, up 113.3% YoY. "The vacancy rate will likely bounce in the 0.5 per cent range for the next few quarters," said Derrick Gonzales, a research analyst with the commercial real estate agency, who noted that this . Trenton-Princeton has a multifamily rental vacancy rate of 7.5% in 2022Q3, down 16.7% YoY. Between 2005 and 2015, rental vacancy in Oklahoma declined 37.0%. We make the lives of landlords, tenants and real estate investors easier by giving them the knowledge and resources they care most about. That could weigh on rental rates in 2023. 26.1% of Minnesota households do not own a home as of 2022Q3. Commercial real estate vacancy rates and availability rates are two important metrics to consider when trying to assess the health of the commercial real estate market. 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