NEW YORK, Aug. 3, 2021 /PRNewswire/ -- Reonomy, the leading provider of actionable CRE data, has expanded its Market Glance insights to a total of 30 Metropolitan Statistical Areas (MSAs), across Multifamily, Office, Retail, Industrial and Hospitality categories. The expansion is part of Reonomy's commitment to helping organizations–ranging from brokerages and banks, to commercial services providers–better understand the people, properties and companies behind commercial real estate (CRE).
Reonomy pulls data from a vast network of providers to aggregate insights on all commercial properties across the US, including assessor, census, transaction, geospatial, ownership and occupant data. Using machine learning and proprietary entity resolution capabilities, Reonomy then stitches together all data sources on the parcel level with a single identifier. The resulting data set is an industry-leading collection of insights across more than 50 million commercial properties.
Reonomy's Market Glances draw upon this dataset to provide a timely snapshot of each MSA. Centered around the Reonomy Price Index (RPI)–a collection of composite sales price indices measuring change and fluctuation of markets by asset type–the Market Glances also include sales mix, sales volume, market share, monthly transactions and noteworthy sales.
Notable findings in Reonomy's latest refresh of its Market Glances include:
Pandemic Recovery is Spotty for Offices: Across 30 markets, just three have recovered to pre-pandemic levels in terms of office sales volume: San Antonio (+20%), Phoenix (+20%) and Tampa (+12%). All others sit at or below 2019 levels.
What Tech Exodus?: San Francisco's 12-month rolling average RPI of 382 for Office transactions is higher than at any point in the past 20 years–indicating that the impact of a "tech exodus" from the Bay Area has been dramatically overstated.
Retail's Struggle: While retail sales volume has recovered to 2019 levels in a handful of MSAs, it remains precipitously low in cities like New York, where volume has decreased by 80% compared to pre-pandemic levels in 2019, and in Dallas, where volume has decreased by 54% compared to 2019.
"The commercial real estate data landscape is incredibly fragmented. Reonomy is designed to help CRE professionals make smarter decisions with all of their data and insights in one place," said Bill Okun, CEO of Reonomy. "We make these Market Glances available to the public so that everyone in CRE can understand, from a macro level, what's happening in a given area. Whether you're looking into noteworthy transactions in a specific city or are interested in market share by square footage, we have the analysis in one convenient place."
Reonomy's Market Glances are available to the public here. For more information on Reonomy or its Market Glances, visit reonomy.com.
About Reonomy Reonomy is the leading provider of CRE insights, empowering top brokerages, financial institutions, and commercial services providers with actionable data and solutions. Armed with Reonomy's enterprise-grade products, CRE professionals and organizations gain comprehensive market understanding, discover opportunities, and streamline research processes. For more information, visit https://www.reonomy.com or follow us @Reonomy on Twitter.