Despite the financial pressures of rising interest rates and high inflation, consumers are returning to their pre-pandemic lifestyles, providing a boost to commercial real estate across all sectors.
This was the news from a panel of experts on March 30 at the National Association of REALTORS®’ quarterly Real Estate Forecast Summit.
Mortgage rates for commercial loans have already risen 150 basis points so far this year, but further increases in 2022 are likely to be less sharp, said NAR Chief Economist Lawrence Yun. A slowdown in rate hikes could provide stability as the commercial market continues to recover from taking a deep hit during the pandemic.
Formed in the 1980s, the Society of Commercial REALTORS® (SCR) is the commercial REALTOR® organization that operates independently and under the auspices of the Greater Fort Worth Association of REALTORS®. Created specifically for the commercial real estate practitioner, SCR offers the strength and backing of the National Association of REALTORS® (NAR) while focusing exclusively on the commercial real estate industry.
