The National Association of REALTORS (NAR) has released its third quarter 2026 Commercial Real Estate (CRE) Demand Index, revealing that industrial employment growth emerged as a key driver of commercial real estate demand in select markets. While industrial employment remained relatively flat nationally, stronger job growth in manufacturing, transportation and warehousing helped propel markets including San Antonio, Seattle and Nashville higher in the rankings.
Of the 306 metropolitan areas tracked in the index, 143 scored above 100 in the third quarter, indicating stronger commercial real estate demand drivers relative to other markets. St. George, Utah, retained the top spot with a score of 132, followed by Huntsville, Ala. (125); Fayetteville-Springdale-Rogers, Ark. (123); Sherman-Denison, Texas (123); and Ocala, Fla. (121).
“The story this quarter is where companies are hiring,” said Nadia Evangelou, principal economist and director of real estate research at
