US Commercial Demand Index Debuts | Embracing Performance Over Perception

A new US index measured economic drivers behind Commercial Real Estate demand across 300+ metros, focusing on conditions that often appear before leasing activity shifts.
It combined office, industrial, retail, and multifamily signals, with heavier weighting for industrial and multifamily because those sectors had driven more activity recently.
An index reading of 100 marked the avg. metro; higher scores meant faster-growing demand drivers, while lower scores signaled slower growth, not necessarily economic decline.
Across the US, standout metros generally showed strength in multiple sectors, and some smaller markets outperformed larger peers on recent momentum rather than scale.
Updated quarterly, the index tracked conditions that generate space demand, highlighting where local momentum could influence whether space sat empty or got leased.