South Carolina Leads U.S. Commercial Real Estate Demand Forecasts

The index evaluates over 300 metropolitan markets by synthesizing Bureau of Labor Statistics and Census Bureau data. Rather than a simple snapshot, it weighs sector-specific metrics: professional employment growth for office space, manufacturing and warehousing trends for industrial sites, and population migration patterns for the multifamily sector. This data-driven approach aims to isolate areas where economic fundamentals are strengthening, even as broader national trends remain volatile.

Nadia Evangelou, principal economist at the NAR, emphasizes that the findings highlight where demand is building rather than dictating immediate acquisition strategies. The report also reveals a shift in market hierarchy since the 2022 pandemic migration peak. Raleigh, North Carolina, stands as the lone major market showing increased strength compared to that period, while previously high-growth hubs such as Austin, Miami, and Naples have experienced significant cooling. Currently, St. George, Utah, holds the top position among individual metropolitan markets, fueled by the nation's most robust office employment growth.