Macroeconomic conditions continued improving at a moderate pace in the second quarter of this year. Demand for commercial lease space continued advancing in the second quarter of 2015, rebounding from the soft performance of the wintry first quarter. The apartment
sector was the only exception, as new supply exceeded demand this year, resulting in a slight increase in vacancies.
While construction has been ramping up across all property types, the gap between demand and supply continued to add downward pressure on availability.