Lack of credit and the economic downturn will continue to depress the real estate market in 2009 following a forecast published by the National Association of Realtors®.

Economists also said that all components of market declined: lack of commercial credit, no liquidity in the market, economic downturn and no opportunity to sell assets.

In Q4 2008, The Commercial Leading Indicator for Brokerage Activity fell 6.0 percent to an index of 109.2 from 116.1 in Q3 2008, and is 9.1 percent lower from 120.1 in Q4 2007.

These are not good news for the US real estate market…