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Rents were also up, by 6.7%, slightly less than a year ago at this time.
As for the flight to quality, 84% of new leases sought those accommodations.
Homes in New Orleans are trading at a 5% discount while South Florida homes are overvalued by 36%.
It evaluated 403 metro areas across the US to find the top large and small cities.
Sixteen percent of forecast respondents cite the AI boom and digital infrastructure as the primary driver of industrial development
However, starts are expected to continue to decline this year.
Nationally, 97 MSF of office space is currently in various stages of development – 28% less than in 2023.
Austin had the most slippage among six key markets.
Not surprisingly, the wave of supply in most markets is playing a role.
Minneapolis is number one, followed by Queens, NY.