Vacancy rates remain high, but indicators show consumer recovery is sustainable according to OKCREview.com: "In retail, the holiday shopping season trends were positive even though not significantly evident in increased shopping center occupancy. Year-over-year growth in core retail sales has been steadily improving since May and growth was above 6% as of November—a good indicator that the consumer recovery is sustainable.
With the exception of 10 markets, retail markets are generally recording double-digit availability rates. San Francisco, New York City, Oakland, Long Island and Miami are among those maintaining the lowest (and single-digit) availability rates. Twenty markets saw improvement in availability rates compared to last quarter (another six were flat); of these, eight also recorded declines compared to one year ago (Columbus, Boston, Long Island, Atlanta, Oakland, Miami, Baltimore and Washington DC)."
Friday, January 14, 2011
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