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The commercial real estate market continues to recover from the economic consequences of the COVID-19 pandemic. Commercial property acquisitions in the January to May 2021 period increased 1% year-on-year as investors acquired apartment buildings, hotels, and senior housing.
NAR Research expects commercial transactions to improve in 2021 and even more so in 2022, with the population practically vaccinated by the end of summer 2021 as more companies increase their operating capacity, resume travel and more employees Return to the office and consumers spend some of their savings on leisure and recreation and personal services.
