NAR releases metro market map

The National Association of Realtors published an interactive metro map on April 6 showing how commercial real estate conditions differ across U.S. markets. (nar.realtor) The map covers four property types — office, multifamily, industrial and retail — and lets users zoom into metros to compare net absorption, asking-rent growth and vacancy. (nar.realtor) NAR ties the map to its Commercial Real Estate Metro Market Dashboard, which says it tracks economic and demographic indicators alongside net absorption, vacancy, rent, deliveries, inventory, total sales volume and cap rates. (nar.realtor) The pitch is that national averages are no longer enough. NAR economist Oleh Sorokin wrote that commercial conditions now vary sharply by metro, making local comparisons more useful for brokers and investors. (nar.realtor) Industrial is the clearest example in NAR’s write-up. Sorokin said stronger rent growth is now more common across the eastern half of the country, from the Southeast through the mid-Atlantic and parts of the Midwest, rather than being concentrated in western logistics hubs. (nar.realtor) That shift lands after a broad cooldown in warehouses. NAR’s August 2025 market report said industrial absorption had fallen to a decade low and vacancy had climbed to 7.5% as oversupply slowed rent gains. (nar.realtor) By January 2026, NAR said industrial conditions were still cooling, but the imbalance was narrowing and the sector was moving slowly toward normalization. (nar.realtor) The office map points to a different pattern. NAR said New York and San Francisco were showing stronger absorption, suggesting renewed tenant activity in a small group of gateway and innovation-heavy markets. (nar.realtor) NAR says the dashboard covers 390 commercial markets, and the organization presents it as a way to benchmark one metro against another instead of relying on a single national narrative. (nar.realtor)