Three Midwest cities are among those most likely to make the transition from having economies that are in recovery to economies that are in expansion mode.
That’s the result from the latest analysis from CBRE Economic Advisors.
According to CBRE’s numbers, Columbus, Louisville and Nashville are the three Midwest entries of the nine cities that CBRE predicts will see a move from economic recovery to expansion in 2013.
This, of course, is good news for the commercial real estate pros working in those cities.
The CBRE analysis looks at cities that suffered through severe recessions but have since recovered strongly. Nashville, Louisville and Columbus are three of these cities.
CBRE expects all three cities to make a full recovery during the next year and then become one of those fortunate U.S. cities that are actually in the middle of economic expansions.
And just so CRE pros understand how important it is for a greater number of cities to reach the “expanding economy” stage, here’s a direct quote from CBRE: “Once these markets begin to expand, demand can be more easily backfilled, setting the stage for a more fundamentally sound real estate recovery. This will lead to more significant rent growth and also sets the stage for a new — albeit less pronounced — construction cycle in select pockets of the country.”
