Labor market conditions remained soft in April, as payroll growth slowed from March and employment showed little net change over the prior 12 months. The unemployment rate held at 4.3%, while wage growth remained positive but measured. Inflation rose to 3.8%, driven largely by energy prices, while shelter costs matched the monthly CPI increase but trailed overall inflation on an annual basis. The Federal Reserve kept rates unchanged as long-term borrowing costs moved higher, with the 10-year Treasury yield rising to 4.32% amid renewed geopolitical uncertainty. At the same time, GDP growth rebounded to 2.0% in Q1 after a weak year-end reading, supported by stronger investment, exports, and government spending. However, elevated inflation continued to weigh on the broader outlook.
Below is a summary of the performance of each major commercial real estate sector in April of 2026.