The National Association of Realtors (NAR) has issued its quarterly commercial real estate forecast and reports that all major commercial real estate sectors are experiencing improved fundamentals. A press release summarizing the forecast can be found here. NAR reports that multifamily housing is becoming a landlord’s market, while office and industrial space remain a tenant’s market. Among other predictions for 2013, NAR predicts that by the first quarter of 2013, office and retail vacancy rates will decline by .4 and .9 percent respectively. NAR’s forecast is supported by data in its Commercial Real Estate Market Survey for January 2012.