The Commercial Metro Market Report provides economic and commercial statistics on 52 metropolitan areas or portions of these metropolitan areas in which significant commercial transactions take place. The data are compiled from publicly available statistics and proprietary data for which information is available.

The reports include economic, demographic, and commercial market data that provide REALTORS® with information on the factors driving commercial real estate transactions in the 52 markets.

Due to data limitations, reports are currently available for only 52 metro areas. If a report is not available for your area, please contact the National Association of REALTORS® at data@nar.realtor so we can work with your association or the commercial overlay boards in developing a data report.

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Commercial Market Reports Q3 2020

The Commercial Metro Market Report provides economic and commercial statistics on 52 metropolitan areas or portions of these metropolitan areas in which significant commercial transactions take place. The data are compiled from publicly available statistics and proprietary data for which information is available.

The reports include economic, demographic, and commercial market data that provide REALTORS® with information on the factors driving commercial real estate transactions in the 52 markets.

Due to data limitations, reports are currently available for only 52 metro areas. If a report is not available for your area, please contact the National Association of REALTORS® at data@nar.realtor so we can work with your association or the commercial overlay boards in developing a data report.

Top Commercial Real Estate Markets that Outperformed the National Trend in 2020 Q3

A comparison of the indicators on the 52 markets to the U.S. indicators show these markets outperformed the national trend in 2020 Q3:

  • Nashville-Davidson-Murfreesboro-Franklin, TN
  • Richmond, VA
  • Salt Lake City, UT
  • Austin-Round Rock, TX
  • Indianapolis-Carmel-Anderson, IN
  • Phoenix-Mesa-Scottsdale, AZ
  • Virginia Beach-Norfolk-Newport News, VA-NC
  • Atlanta-Sandy Springs-Roswell, GA
  • Charleston-North Charleston, SC Raleigh, NC

Each of the factors below is scored 1 point and all the points are totaled for each area:

  • y/y %  change in non-farm employment is higher than the U.S. rate
  • unemployment rate is lower than the U.S. rate
  • y/y % change in average weekly wages is higher than the U.S. rate
  • GDP growth is higher than the U.S. rate
  • population growth is higher than the U.S. rate
  • net domestic migration is positive
  • multifamily rental vacancy rate is lower than the U.S. rate
  • y/y% change in 12-month starts for 5-unit properties is higher than the U.S. rate
  • ratio of change in employment to housing starts in past 12 months is higher than the U.S. ratio
  • y/y % change in apartment rent is higher than the U.S. rate
  • net absorption of office space is positive
  • office vacancy rate is lower than the U.S. rate
  • y/y % change in office asking rent is higher than the U.S. rate
  • under construction of office space as a share of current inventory is higher than U.S. rate
  • net absorption of industrial space is positive
  • office vacancy rate is lower than the U.S. rate
  • y/y % change in industrial asking rent is higher than the U.S. rate
  • under construction of industrial space as a share of current inventory is higher than U.S. rate
  • y/y % change in retail trade jobs is higher than the U.S. rate
  • credit card spending relative to Jan 2020 is higher than the U.S. rate (may not be available for all metros)
  • y/y % change in leisure and hospitality jobs is higher than the U.S. rate
  • number of businesses open relative to Jan 2020 is higher than the U.S. rate

NAR also creates Local Market Reports on the state of the housing market.

Alabama

Birmingham – Hoover (PDF: 208 KB)

Arkansas

Memphis (PDF: 206 KB)

Arizona

Phoenix – Mesa – Scottsdale (PDF: 208 KB)
Tucson (PDF: 204 KB)

California

Colorado

Connecticut

Delaware

District of Columbia

Florida

Georgia

Illinois

Chicago – Naperville – Elgin (PDF: 207 KB)
St. Louis (PDF: 207 KB)

Indiana

Kansas

Kansas City (PDF: 209 KB)

Kentucky

Cincinnati (PDF: 209 KB)
Louisville – Jefferson County (PDF: 210 KB)

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Memphis (PDF: 205 KB)

Missouri

Kansas City (PDF: 209 KB)
St. Louis (PDF: 207 KB)

Nevada

New Hampshire

New Jersey

New York

New York – Newark – Jersey City (PDF: 211 KB)
Rochester (PDF: 208 KB)

North Carolina

Pennsylvania

Ohio

Cincinnati (PDF: 209 KB)
Cleveland – Elyria (PDF: 206 KB)
Columbus (PDF: 206 KB)

Oklahoma

Tulsa (PDF: 204 KB)

Oregon

Rhode Island

Providence – Warwick (PDF: 210 KB)

South Carolina

Tennessee

Texas

Utah

Salt Lake City (PDF: 206 KB)

Virginia

Washington

West Virginia

Wisconsin

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