The Commercial Real Estate summary provides a quarterly view of three commercial real estate indicators:

• office vacancy rates
• office space net absorption
• direct average asking rent

The chart summarizes office vacancy rates and net absorbtion. The office vacancy rate represents the percentage of available rental units out of known commercial rental units. Net absorption represents the net change in occupied rental space between measurement periods.

The second chart shows direct average asking rents for office real estate. This figure averages asking rents from the A, B, and C Classes of office space. These Classes rank space from highest to lowest quality, respectively.

OFFICE VACANCY RATE, NET ABSORPTION, AND ASKING RENTS