Chart 1: Excess Supply Dominates Commercial Markets
While Tightness Can Be Seen in Residential Markets

Percent of Market Participants Indicating:

Market	Tight Supply	In Balance	Excess Supply	Not Sure
Industrial	2	33	64	1
Retail	1	31	68
Office	1	21	78
Multifamily	15	39	45	1
Single-Family	33	39	27	1

Source: FFDIC Survey of Real Estate Trends, July 2002