This statistic presents a forecast of retail vacancy rates in the United States from third quarter of 2015 to fourth quarter of 2016. It was expected that the retail vacancy rate would amount to 11.6 percent in the fourth quarter of 2016 in the United States.
Vacancy rates – additional information
Retail real estate is a wide definition within the commercial real estate, which includes such types of property as retail park centers, shopping malls or various convenience stores on the streets of a given location. The vacancy rate depicts the share of unoccupied retail properties available on the market due to the relocation of businesses or new completions. According to market forecast published by National Association of Realtors and Reis, the U.S. retail vacancy rates will revolve around the level of nine percent until the fourth quarter of 2016.
The value of vacancy rate depends on various factors such as location of the real estate, type and cost of the real estate, business environment, logistics and demographics. In the attractive retail real estate locations there is less vacant space available as such places offer good opportunities for expanding the businesses. The leading U.S. retail markets in terms of lowest retail vacancy rates were San Francisco (3.8 percent), Hawaii (4 percent) and Miami-Dade County (4.8 percent) in 2013.
The other main types of real estate for which vacancy rates are calculated on a national scale are office, industry and multi-family vacancy rates. They help to determine the state of the economy and provide an overview of its real estate sector.