The IMF is especially concerned about the potential effects on the nation's financial system

Both rent and housing costs escalated in 2023, but rents are rising faster

The six markets that broke the mold were dissimilar and spanned the country

The level of interest rates may no longer be the one-factor model for CRE prices

The year 2023 ended with just 4.6% of retail space available nationwide

The NRF cautioned that tighter credit conditions and higher borrowing costs remain a threat in 2024

A host of factors may continue to act as a drag – rather than a boost – to the markets though.

Home mortgage payments have risen from 23% of household income in November 2019 to nearly 39% in November 2023