Research

Our research methodology integrates historical and current economic, demographic and real estate factors which enables our Research Services department to develop comprehensive market forecast scenarios.

2025 EMPLOYMENT OUTLOOK AND TOP METROS

Elevated interest rates likely to curb national hiring trends The leading job creation markets Two resources to help you refine your investment strategy

Research Brief: Employment – January 2025

Multiple growth signals noted at 2024’s conclusion. Overall employment increased by 256,000 jobs in December — the strongest month for hiring since March — bringing the total for 2024 to 2.2 million new positions. Though this is down from the prior year’s 3 million-role tally, with the average number of jobs created per month declining across most sectors, employment growth has actually picked up…

CNBC – Why 2025 Will Be A Turning Point For Commercial Real Estate

CNBC Features Marcus & Millichap CEO Hessam Nadji Why 2025 Will Be A Turning Point For Commercial Real Estate The forces aligning to spur CRE investor engagement in 2025. What does the recent surge in data centers indicate for the evolution of CRE? Will retail remain a favored investment in 2025?    

Surging Sentiment Could Favor CRE in 2025

Multifamily demand on the rise as consumer sentiment boosts household formation Surge of small business optimism could portend strengthened CRE space demand Slackening new construction bolsters long-term CRE outlook

Yahoo – How Investors Are Adapting To The Evolving Interest Rate Outlook

Yahoo! Finance Features Marcus & Millichap CEO Hessam Nadji Key CRE Performance and Investment Trends for 2025 Have investors accepted the reality of higher interest rates? The opportunities investors are capitalizing on today. The forces supporting CRE space demand and investment in 2025. Potential policy impact on CRE in 2025 and beyond.    

Bloomberg – 2025: A Turning Point For Commercial Real Estate

Bloomberg News Features Marcus & Millichap CEO Hessam Nadji Key Trends Supporting the Investment Outlook How investors are balancing uncertainty vs. fear of missing out Why retail real estate has emerged as a top investment alternative Lender liquidity and the availability of debt capital How tax policy in 2025 could benefit CRE investment    

The Three Trends Shaping the CRE Outlook

The 2025 outlook uncertain but long-term drivers remain strong Demographics a critical component of long-term space demand Capital flows into CRE will support market liquidity

Research Brief: Employment – December 2024

Employment growth resumes earlier trends. Hiring hit a six-month high in November as weather- and labor relation-related disruptions to job creation in October gave way to a subsequent rebound. The 227,000 net new roles in November, combined with the prior period’s 36,000-person addition, result in a mean gain of 131,500 positions per month. This is below the average of 191,000 from the first nine months of the year, as well as what was typical across the… Read More