The Commercial Real Estate Metro Market Reports provide information on the multifamily, office, industrial, retail, and hotel property markets in 390 metropolitan areas or portions of these areas. The reports provide 46 indicators (if all available) on the economic and demographic conditions of a metro area (GDP growth, employment, unemployment, wage growth, domestic migration, population growth) and commercial market indicators on net absorption, vacancy rates, rent, leasing, deliveries, ongoing construction, inventory, total sales volume, transaction price, and cap rates based on CoStar® market data.
NAR aggregated the information across the property markets into a Commercial Real Estate Market Conditions Index to assess the area’s overall conditions relative to national conditions. The index is calculated as the ratio of the number of variables where a metro area’s condition is stronger compared to nationally to the total number of indicators available in a metro area (46 if all are available). An index above 50 means market conditions are stronger than nationally, and an index below 50 means local market conditions are weaker than nationally.
Top Commercial Real Estate Markets in 2021 Q2
In 2021 Q2 , the top 10 markets that outperformed the national trend are1:
- Cape Coral-Fort Myers, Florida
- Las Vegas-Henderson-Paradise, Nevada
- Port St. Lucie, Florida
- Nashville-Davidson-Murfreesboro-Franklin, Tennessee
- Raleigh, North Carolina
- North Point-Sarasota-Bradenton, Florida
- West Palm Beach- Boca Raton- Delray Beach, Florida
- Punta Gorda, Florida
- Spokane-Spokane Valley, Washington
- Olympia-Tumwater, Washington
Published by National Association of Realtors