Pittsburgh real estate market moves up in rating

Saturday, October 23, 2010
Source: Trib Total Media

Pittsburgh continues to climb rankings and improved its score on Moody's latest, of 60 commercial real estate markets during the third quarter, to move up from a tie for 10th place in the second quarter to a tie for fifth, according to Trib Total Media, Inc staff and wire reports.

The region ranked first in the nation at year end of 2008.

The region scored an 84 in the multi-family market, aided by having the lowest vacancy rate at 2.4 percent. Its next highest total was 74 in the limited service hotel group, followed by a 68 in the Downtown office category.

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This latest rating pairs nicely with a resume that already includes Best City to Relocate, Best Places To Live, Best Housing Market, Best Place to Raise a Family, and Most Bike-Friendly Cities, among other wonderful rankings.

Gregg Broujos, Founding Principal at NAI Pittsburgh Commercial, reacts to this latest ranking, “This latest ranking of our city confirms that Pittsburgh’s well-known and consistent reputation as a historically stable commercial real estate market keeps us in the upper tier of the United States. We are the Pittsburgh Steelers of the Multi-Family market – either number one, or close to it.”


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