from the St Louis Fed
– this post authored by Charles S. Gascon and Joseph McGillicuddy
The commercial real estate industry has experienced robust growth since the end of the Great Recession (2007-09). Property prices have grown steadily and are now at their pre-recession peak in real terms, on pace to surpass historical highs. Similarly, vacancy rates have declined consistently over the same period. The multifamily vacancy rate is at a 30-year low.