The top five commercial real estate markets of 2022′s first quarter all have one thing in common. 

Q1 may have technically been a winter-to-spring transition, but CRE metro markets were particularly hot in the Sun Belt and West, with Florida walking away with the top five out of 16 markets. That’s according to the National Association of Realtors’ Commercial Real Estate Metro Market Conditions Index. Only one market—Boston—was outside of those regions.