Confidence is running high among industry professionals polled for the latest McGladrey Commercial Real Estate Index, which measures the health of Connecticut’s commercial real estate market in office, industrial, retail and investment.
The overall index rose to a record high of 26.5 in the first quarter of 2013, up seven points year-over-year and up sharply from 14.9 in the fourth quarter of 2012. Current market conditions also reached a new high, climbing to an index level of 26.7 versus 17.8 a year ago. Future expectations set a new index high of 26.3, rising 11 points from the final quarter of 2012 and up four points year-over-year.
Ninety-two real estate brokers, real estate developers, bankers, appraisers, and economic development officials from around the state participated in the most recent survey, which also showed respondents were downbeat about the economy and slow job growth.