There is a bright spot among the doom and gloom of recent media reports. NAR (National Association of REALTORS) just published a new report that shows vacancy rates in Miami for office, retail and multi-family were the lowest rate of any of the six major metro areas tracked by NAR in Florida. Third quarter office vacancies stood at 13.2% in Miami and is expected to remain steady through the end of the year. Retail vacancies are below 5% while the multi-family market is expected to dip below 2.7% by the end of the year.
For the full report click here. florida_commercial_market_watch_20081