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Fewer New Homes Could Mean Higher Prices

Last updated on Thursday, January 21, 2010

(UNDATED) - With fewer new homes being built, 2010 could bring higher prices for residential real estate.

But commercial properties face another year of declining values and rising vacancy rates.

That's the assessment of Colliers Turley Martin Tucker in its annual state of real estate report.

The president of the F.C. Tucker company's Residential Real Estate Services Division, Jim Litten, says the residential market finished strong after a sluggish start.

But there is declining demand for office and retail space.

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