Survey says Real Estate Pros are more confident!

The University of Saint Thomas conducts a survey twice a year. Here is what those statistics showed.
They say the two core measurements for success in commercial real estate are vacancy rates and the price range rent landlords are able to charge. Because commercial real estate is completed slower than normal sales, professionals predict now about 12 to 24 months when an increase in optimism, occupancy, and rents.

The increase in occupancy and rent from last quarter was a 64.9 to a 71.4 increase.

The first indication of an improved economy is an increase in the demand for space. the report by Cassidy Turley indicated the Twin Cities metro's office vacancy rate fell in the first three months of the years from 19.3% to 18.8%. Downtown Minneapolis saw its vacancy rate drop from 17.9 to 17.2% over the same time period.

On the plus side, the Twin Cities added thousands of jobs over the past year. Its unemployment rate shrank from 8.2% in 2010 to a 6.8% in 2011! This makes Minnesota one of the nation's "bright spots" in terms of economic stability!