Commercial property markets improved in late 2012 despite uncertainty about the fiscal cliff. Apartment vacancies declined further while office rents posted the strongest gain in years. The retail sector is moving sideways. Economic growth was mixed. Inventories and defense spending were weak, but core GDP—private domestic final sales—posted moderate gains. Job growth was revised higher, to 200,000 per month for the fourth quarter, a significant move towards healthier labor markets. Check the Commercial Property Update for more details.