The Commercial Real Estate Market Conditions Index factors 25 variables on economic conditions, demographics and more. This year, Orlando topped the list.
CHICAGO – Florida has five of the hottest commercial real estate metro markets in the first quarter of 2022, according to new research from the National Association of Realtors® (NAR) – the metros areas of Orlando, Miami, Palm Beach, Fort Lauderdale and Fort Myers.
NAR factors 25 variable when creating its Commercial Real Estate Market Conditions Index. It creates an overview of a metro area’s economic conditions, demographics and employment, looking at things such as job growth, wage increases and population growth, as well as market conditions on vacancy rates, absorption, rent growth, cap rates and more.
Overall, the South boasts the most booming commercial markets, with 11 of the top 16 markets.
NAR’s index identified the following 16 markets as the hottest in commercial real estate in the first quarter. For an overview of each market, visit NAR’s Economists’ Outlook blog.
- Orlando-Kissimmee-Sanford
- Miami-Miami Beach-Kendall
- West Palm Beach-Boca Raton-Delray Beach
- Fort Lauderdale-Pompano Beach-Deerfield Beach
- Fort Myers
- Savannah, Ga.
- Austin, Texas
- Boston-Cambridge-Nashua, Mass.
- Riverside-San Bernardino-Ontario (Inland Empire), Calif.
- Atlanta-Sandy Springs-Roswell, Ga.
- Asheville, N.C.
- Las Vegas-Henderson-Paradise, Nev.
- Bend-Redmond, Ore.
- Charleston-North Charleston, S.C.
- Nashville-Davidson-Murfreesboro-Franklin, Tenn.
- Provo-Orem, Utah
Source: “First Quarter 2022 Commercial Real Estate Metro Market Reports: Florida Has Top 5 Hottest Markets,” National Association of REALTORS® Economists’ Outlook blog (May 11, 2022)
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