With mixed news again, surely making mixed emotions as well, the real estate climate seems to be stabilizing with a tone of caution. While weaker retail spending has been reported for the past three quarters and business spending has pulled back, vacancies are shrinking across asset classes and rental rates are slowly ticking up across the countries. While most of the recovery can be found in Primary Markets, Charleston in experiencing positive trends and increased interest from companies hoping to grow and expand. Residential recovery is also occurring with Charleston area home sales and median prices making steady and sustainable increases for the past nine months—since November 2011. While foreclosures and short sales are still very much a reality, new home construction appears to be on the rise.