Research

Austin's market got off to its strongest start since 2022, as investors are beginning to respond favorably to a thinning construction pipeline.

Houston multifamily operating fundamentals remained healthy during the first quarter, with continued rent growth across the market.

Multi-tenant retail sales hit $15.1B in Q1, led by the West. Cap rates edged up to 7.01% as institutional investors led.

Multi-tenant industrial sales neared $22.8B in Q1, led by the Southeast. Cap rates rose to 6.44%, with private buyers leading.

Multi-tenant office sales hit $18.1B in Q1, led by the Southeast and West. Cap rates dipped to 7.51% as private buyers led.

Multi-tenant sales neared $56B in Q1, led by industrial. Cap rates held at 6.99%, with private buyers leading activity.

Single-tenant retail sales hit $2.7B in Q1, led by the Southeast. Cap rates fell to 6.84%, with private buyers dominating.

Single-tenant industrial sales hit $7.7B in Q1, led by the Midwest. Cap rates rose slightly as institutional share increased.

Single-tenant sales reached $12.9B in Q1, led by industrial. Cap rates eased to 6.81%, while private buyers led acquisitions.

Raleigh-Durham multifamily development hit a five-year low in Q1, with apartment deliveries down 63% year over year.

Denver multifamily fundamentals improved modestly in the first quarter, with slight gains in rent growth and vacancy rates across the metro area.

U.S. growth slowed into 2026 as energy prices, inflation and geopolitical risks complicated the outlook for consumers and the Fed.