The worst of the COVID crisis may be in the rearview for the commercial real estate market, according to one industry insider.
"I still think the worst is behind us, and that the commercial real estate market is strengthening," said John Chang of Marcus & Millichap in a recent video. "But we're not out of the woods yet."
The apartment sector had a stellar second quarter, Chang said, with net absorption coming in at 218,000 units—the strongest single quarter absorption on record back to 1993. Quarter-over-quarter rent growth was 4.1%, the biggest gain since the dot-com boom, and vacancy fell 3.8 basis points nationally.
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