The economic outlook for Greater Washington continues to show a region locked in stasis by a chilled commercial real estate market.
At the same time, a handful of data points offer a glimpse of hope for the near future.
That’s the latest finding from CBRE’s REVIVE Regional Vibrancy Index charting the D.C. area’s economic strengths and weaknesses in the wake of a pandemic that changed the core of how the region operates, from the shift to hybrid work to the evolution in how people get around.
CBRE (NYSE: CBRE) and the Washington Business Journal are partnering to produce the monthly index, tracking changes throughout 2024. The index in May fell 1.3% from the previous month to 65.5 out of 100. The data lags by about a month.
The most recent index, however, sits 12.2% below where it was a year ago in May 2023.
Like in April, the score continues to be weighed down by a growing intensity of distress in the region’s commercial real estate markets, which face higher interest rates…
Read the full story from the Washington Business Journal.
