Are things better when they talk about you or not? The Federal Reserve's August edition of the Summary of Commentary on Current Economic Conditions, more frequently called the Beige Book, broke what has become of late a trend: a mention of commercial real estate in the part of the national summary section before Federal Reserve district highlights.

However, a number of the districts specifically mentioned CRE:

Boston — CRE activity was described as both "limited but stable" and "mostly stagnant in recent months." Few leases were signed in the office market, rents flat, and vacancies up slightly from fresh subleasing. There was strengthening demand for medical office space. Some in the market expected some uptick in office leasing, mostly due to seasonal trends but also company demands that workers return to the office. Industrial activity slowed with slower demand and low vacancies. Grocery-anchored suburban shopping centers saw "decent leasing activity that outperformed expectations." Other retail was mixed. Investment sales were down because of high borrowing costs, the result being inhibited price discovery. Sales volumes are expected to be low through at least 2023.