Decreasing commercial vacancy rates, specifically retail and office space, can be a leading indicator on jobs. With that as the case, Santa Fe is trending in the right direction.
According to the Albuquerque Business First, Santa Fe's retail vacancy rate is slightly over 5%, the lowest level since 2007. And trending in the same direction is the office space vacancy rate at 10%, the lowest since 2009.
Confidence in the future of the Santa Fe economy has lead people to start businesses or current business owners to expand. Either way, it's a positive and downtown Santa Fe is seeing an exceptional resurgence. Vacancy rates in the downtown area are under 5% for retail and under 8.5% for available office space. Lowering rates mean rising jobs.
And with jobs on the rise, real estate will follow.
Find more real estate info at www.ExperienceAlbuquerque.com
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