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Lee & Associates’ Report: Industrial and Multifamily Slow, Office Recovers, Retail Demand Holds

The headline numbers in commercial real estate rarely tell the full story. First-quarter 2026 data is a case in point: Lee & Associates reports that industrial and multifamily are slowly absorbing a h

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Summary

The headline numbers in commercial real estate rarely tell the full story.

First-quarter 2026 data is a case in point: Lee & Associates reports that industrial and multifamily are slowly absorbing a historic supply surge, office is staging an uneven recovery, and retail is contending with a shortage of quality space rather than a glut of it.

Here’s a sector-by-sector look at where U.S. commercial real estate stands heading into the rest of the year — and which markets are bucking the trend. Spon

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