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A new National Association of Realtors (NAR) report is crediting sluggish job creation and a lack of loan availability for slow CRE recovery. The NAR study noted that, in particular, vacancy rates in the office sector are expected to fall from an estimated 16.1 percent in the third quarter of this year to 15.6 percent in the third quarter of 2013. The study has more bad news for the retail sector, predicting vacancy rates at shopping centers and malls will decline from 10.9 percent in the third quarter of this year to only 10.7 percent in the third quarter of next year.
