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Economic Update – May 28, 2026
The May 28, 2026 CRE economic update from SVN Denver covers ten key indicators shaping commercial real estate markets, including a Q1 GDP downward revision to 1.6%, a hawkish FOMC stance signaling rates on hold, and US commercial property prices rising just 1.1% year-over-year. Consumer sentiment fell to a historic low of 44.8, CRE investor conviction has softened, and falling moving expectations point to reduced apartment turnover ahead. Together, these signals reinforce a cautious, selective investment environment across office, industrial, multifamily, and retail asset classes.
Q1 2026 Denver Multifamily Investor Report
The Q1 2026 Denver multifamily investor report shows the market trading sideways, with 12-month sales volume of $2.6B across 205 trades — roughly 30% below the 10-year average. Vacancy reached a two-decade high of 12.0% as new supply outpaced absorption, while average pricing slipped to $307K per unit, now 17% below the 2021 peak. The supply wave appears to be cresting, creating a potential entry window for value-add investors in Class B/C product.
Q1 2026 Denver Office Occupier Report
SVN Denver’s Q1 2026 Denver office occupier report shows the market posted its first positive net absorption quarter since early 2022, with +94,000 SF absorbed despite vacancy reaching a record 18.1%. Tenants continue to hold significant leverage, with sublease discounts running roughly 30% below direct asking rents and free rent concessions of approximately one month per year of term. With the construction pipeline down to just 1.4 million SF and 89% pre-leased, effective supply is expected to tighten meaningfully through the second half of 2026.

