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.
Summary
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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
Los Angeles – Long Beach – Anaheim (PDF: 207 KB)
Riverside – San Bernardino – Ontario (PDF: 210 KB)
Sacramento – Roseville – Arden – Arcade (PDF: 208 KB)
San Diego – Carlsbad (PDF: 206 KB)
San Francisco – Oakland – Hayward (PDF: 208 KB)
San Jose – Sunnyvale – Santa Clara (PDF: 207 KB)
Colorado
Denver – Aurora – Lakewood (PDF: 206 KB)
Connecticut
Hartford – West Hartford – East Hartford (PDF: 209 KB)
New Haven – Milford (PDF: 210 KB)
Delaware
Philadelphia – Camden – Wilmington (PDF: 211 KB)
District of Columbia
Washington – Arlington – Alexandria (PDF: 208 KB)
Florida
Cape Coral – Fort Myers (PDF: 208 KB)
Jacksonville (PDF: 207 KB)
Miami – Fort Lauderdale – West Palm Beach (PDF: 209 KB)
Orlando – Kissimmee – Sanford (PDF: 209 KB)
Tampa – St Petersburg – Clearwater (PDF: 208 KB)
Georgia
Atlanta – Sandy Springs – Roswell (PDF: 208 KB)
Illinois
Chicago – Naperville – Elgin (PDF: 207 KB)
St. Louis (PDF: 207 KB)
Indiana
Chicago – Naperville – Elgin (PDF: 207 KB)
Cincinnati (PDF: 209 KB)
Indianapolis – Carmel – Anderson (PDF: 208 KB)
Louisville – Jefferson County (PDF: 210 KB)
Kansas
Kansas City (PDF: 209 KB)
Kentucky
Cincinnati (PDF: 209 KB)
Louisville – Jefferson County (PDF: 210 KB)
Maryland
Baltimore – Columbia – Towson (PDF: 208 KB)
Philadelphia – Camden – Wilmington (PDF: 211 KB)
Washington – Arlington – Alexandria (PDF: 208 KB)
Massachusetts
Boston – Cambridge – Newton (PDF: 209 KB)
Providence – Warwick (PDF: 210 KB)
Michigan
Detroit – Warren – Dearborn (PDF: 206 KB)
Minnesota
Minneapolis – St. Paul – Bloomington (PDF: 208 KB)
Mississippi
Memphis (PDF: 205 KB)
Missouri
Kansas City (PDF: 209 KB)
St. Louis (PDF: 207 KB)
Nevada
Las Vegas – Henderson – Paradise (PDF: 206 KB)
New Hampshire
Boston – Cambridge – Newton (PDF: 209 KB)
New Jersey
New York – Newark – Jersey City (PDF: 211 KB)
Philadelphia – Camden – Wilmington (PDF: 211 KB)
New York
New York – Newark – Jersey City (PDF: 211 KB)
Rochester (PDF: 208 KB)
North Carolina
Charlotte – Concord – Gastonia (PDF: 208 KB)
Raleigh (PDF: 205 KB)
Virginia Beach – Norfolk – Newport News (PDF: 212 KB)
Pennsylvania
New York – Newark – Jersey City (PDF: 211 KB)
Philadelphia – Camden – Wilmington (PDF: 211 KB)
Pittsburgh (PDF: 207 KB)
Ohio
Cincinnati (PDF: 209 KB)
Cleveland – Elyria (PDF: 206 KB)
Columbus (PDF: 206 KB)
Oklahoma
Tulsa (PDF: 204 KB)
Oregon
Portland – Vancouver – Hillsboro (PDF: 210 KB)
Rhode Island
Providence – Warwick (PDF: 210 KB)
South Carolina
Charleston – North Charleston (PDF: 208 KB)
Charlotte – Concord – Gastonia (PDF: 208 KB)
Tennessee
Memphis (PDF: 205 KB)
Nashville – Davidson – Murfreesboro – Franklin (PDF: 209 KB)
Texas
Austin – Round Rock (PDF: 207 KB)
Dallas – Fort Worth – Arlington (PDF: 208 KB)
Houston – The Woodlands – Sugar Land (PDF: 207 KB)
Utah
Salt Lake City (PDF: 206 KB)
Virginia
Richmond (PDF: 207 KB)
Virginia Beach – Norfolk – Newport News (PDF: 212 KB)
Washington – Arlington – Alexandria (PDF: 208 KB)
Washington
Portland – Vancouver – Hillsboro (PDF: 210 KB)
Seattle – Tacoma – Bellvue (PDF: 207 KB)
West Virginia
Washington – Arlington – Alexandria (PDF: 208 KB)
Wisconsin
Chicago – Naperville – Elgin (PDF: 207 KB)
Milwaukee – Waukesha – West Allis (PDF: 207 KB)
Minneapolis – St. Paul – Bloomington (PDF: 208 KB)