NAR economist Lawrence Yun said that rising interest rates had pushed up borrowing costs and driven down property values, with offices the most “vulnerable.”
Yun said that commercial appraisal values were already starting to fall nationwide.
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The National Association of Realtors (NAR) has announced its forecasting a “slight decline in prices” next year for the commercial real estate market. So reports Dow Jones Newswires.
NAR economist Lawrence Yun said that rising interest rates had pushed up borrowing costs and driven down property values, with offices the most “vulnerable.”
Yun said that commercial appraisal values were already starting to fall nationwide.