WASHINGTON - In contrast to housing market turmoil, an index of future commercial real estate activity posted its ninth consecutive quarter of improvement, a trade group said Tuesday.
The National Association of Realtors’ Commercial Leading Indicator for Brokerage Activity rose to 120.7 in the second quarter, up from 119.7 in last year’s second quarter and 120.1 in the first quarter this year.
The reading suggests industrial and office sectors likely will expand use of commercial office space the next six to nine months, said Lawrence Yun, NAR’s senior economist.
The index tracks 13 variables to gauge future commercial real estate activity, including real estate investment trust prices, industrial production and employment in several sectors.
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