Several market tracking tools have indicated credit availability needs to significantly rebound for any hope of a meaningful commercial recovery in 2010. The National Association of Realtors’ commercial leading indicator for brokerage activity, which assesses market behavior in the major commercial real estate markets, rose 0.9% to an index of 102.4 in the third quarter of 2009 from 101.5 in the second quarter. That is 11.1% below a reading of 115.3 in the third quarter of 2008. The index in the second quarter was at the lowest level since the first quarter of 1994. The office and industrial markets are the sectors most negatively impacted by the economic downturn, said Lawrence Yun, NAR chief economist, adding some initial movements last week in commercial mortgage-backed securities were encouraging. In its SIOR commercial real estate survey of 710 local market experts, the Society of Industrial and Office Realtors suggested a lower level of business activity in the upcoming quarters. Overall, commercial vacancy rates continue to rise and rents are still declining, according to NAR.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Peter Westerman


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.