New York, Seattle and Miami-South Florida lead gains amid portfolio shifts, while Dallas and Washington fall behind.

Supply moderation and measured absorption gains are helping commercial real estate move toward balance.

A 1.9% rise in prices contrasts with a 1.4% drop in median payments as mortgage rates ease, offering rare relief for buyers in October.

Only 11 U.S. metros outpaced new completions in Q3, as absorption continued to lag across most markets.