Market fundamentals remained healthy as the Southwest Florida market performed above state and national averages.
- The Southwest Florida vacancy rate of 7.3% is 7.1% lower than the U.S. and 3.8% lower than the State of Florida vacancy rate.
- Class B/C asking rents increased more than 20% year-over-year as the direct vacancy rate remained below 5.0%.
- Investor and lender confidence has significantly demised as the year progressed. Rising yields primarily drive this decrease in treasuries and recession risk.