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State of the Market

A new quarterly report is giving insight on what is going up, what is going down, and what that means for your bank account. CohnReznick, the 10th largest accounting firm in the nation, has compiled information for Q3 in 2014 by evaluating apartment, condo, and housing sales as well as office vacancy and retail vacancy. Findings from their data show that there has been record-setting absorption of apartments with a 77 percent higher rate than the long-term average. Meanwhile, as housing sales are down, condo sales are up to the highest quarterly total in nearly two years. For office vacancy, it slightly improved at 11 percent in September, up from 10.8 percent from last year. Retail vacancy is continuing its decline and is accelerating, now at 6.9 percent. [Curbed Inbox]