While the U.S. economy remains resilient, the commercial real estate market’s performance during the first month of 2024 shows a nuanced landscape with sector–specific challenges and opportunities. The normalization of hybrid working arrangements continues to negatively impact office demand, increasing the market’s unoccupied office spaces. However, the fundamentals of the multifamily, retail, and industrial sectors remain robust, indicating a varied performance across the CRE market.
HERE is a summary of the performance across various commercial real estate sectors at the outset of 2024.