Despite the decline in the residential real estate market, commercial real estate is steady, “although investment is waning following a record year in 2007,” according to the National Association of Realtors.

“We’re seeing no significant changes in vacancy rates or rent growth, so the fundamentals in commercial real estate still seem to be respectable,” said NAR chief economist Lawrence Yun. “Under normal circumstances, near-full occupancy coupled with positive rent growth would be of strong interest to investors, but we’re not seeing that. The credit crunch has filtered into the commercial real estate market.”

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