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St. George Utah tops NAR’s inaugural CRE Demand Index
The index, which covers 306 U.S. metro areas, assigns St. George an overall score of 128, with multifamily named as the strongest demand driver.
St. George, Utah ranks as the No. 1 metro area for commercial real estate demand in the National Association of Realtors’ inaugural Commercial Real Estate Demand Index, according to ConnectCRE. The city posted an overall score of 128, and multifamily was identified as the strongest driver of that result.
The quarterly index spans 306 U.S. metro areas and is designed to show where demand is building across office, industrial, retail, and multifamily segments. NAR said the measure does not track current market conditions like vacancy rates, rents, or leasing activity, instead focusing on local economic factors that can generate demand for commercial space.
NAR described the index as an early read on trends before they appear in traditional commercial real estate indicators. According to ConnectCRE, the association said the demand starts with jobs and people, helping identify shifts earlier than leasing activity and vacancy changes.
ConnectCRE also noted that South Carolina ranks as the strongest state for CRE demand, reflecting momentum across the Carolinas, while Raleigh, North Carolina ranks highest among the 50 largest metro areas with a score of 121.