Florida has five of the hottest commercial real estate metro markets in the first quarter: Orlando, Miami, Palm Beach Fort Lauderdale, and Fort Myers, according to new research from the National Association of REALTORS®.
NAR’s Commercial Real Estate Market Conditions Index is calculated by factoring in 25 variables that reflect a metro area’s economic conditions, demographics, and employment, 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 markets.
NAR’s index identified the following 16 markets as the hottest in commercial real estate in the first quarter. (Learn more about each of these markets at NAR’s Economists’ Outlook blog.)
- Orlando-Kissimmee-Sanford, Fla.
- Miami-Miami Beach-Kendall, Fla.
- West Palm Beach-Boca Raton-Delray Beach, Fla.
- Fort Lauderdale-Pompano Beach-Deerfield Beach, Fla.
- Fort Myers, Fla.
- 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