Shopping Center Vacancies Down in Orange County – Mission Viejo Real Estate

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Shopping Center Vacancies Down in Orange County – Mission Viejo Real Estate

While it may seem that your favorite Orange County shopping center has plenty of empty stores, on a national basis local malls are relatively quite full. Real estate tracker Reis Inc. reports that in the first quarter 6.3% of Orange County shopping center space was vacant — tied for 7th best among 83 markets tracked nationwide. And local centers are filling up, as in the past year the Orange County vacancy rate enjoyed an 0.7 percentage point improvement — or 10% better! Nationwide, the least vacant markets … * San Francisco: 3.6% vacancy rate — that is down 0.4 percentage points in a year. * Fairfield County, Conn.: 4.2% – down 0.7 percentage points in a year. * Long Island: 5.4% – down 0.8 percentage points in a year. * Northern New Jersey: 5.4% – down 0.9 percentage points. * San Jose : 6% – up 0.2 percentage points. * Los Angeles : 6.2% – up 0.2 percentage points. * Orange County : 6.3% – down 0.7 percentage points.

Orange County CA Shopping Center Vacancies are down .7% this quarter – running right now at 6.3%. This is great news for the Mission Viejo Real Estate Market – especially home owners and potential Orange County Home buyers. Why? Well, confidence in the economy is critical to improving buyer confidence which increases spending with leads to job growth which leads to improved home values. In a nut shell – any good news having to do with either commercial or residential Real Estate in Mission Viejo and Orange County is wonderful. The faster we can fill up the vacant retail spaces and shopping centers, the faster our economy will get back on track. Just what we need to boost the Mission Viejo Real Estate landscape.

Posted on Mission Viejo Real Estate-Mission Viejo Homes For Sale

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