CBRE Group (CBRE) seasonality heatmap
Returns across monthly, quarterly, and yearly periods. Cell color encodes signed magnitude; the scale auto-fits each table.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +5.9% | -13.3% | -8.3% | +5.4% | -12.4% | +6.7% | — | — | — | — | — | — |
| 2025 | +10.2% | -1.9% | -7.9% | -6.6% | +2.3% | +12.1% | +11.1% | +4.1% | -2.8% | -3.3% | +6.2% | -0.6% |
| 2024 | -7.3% | +6.5% | +5.8% | -10.6% | +1.4% | +1.2% | +26.5% | +2.2% | +8.1% | +5.2% | +6.9% | -6.2% |
| 2023 | +11.1% | -0.4% | -14.5% | +5.3% | -2.3% | +7.7% | +3.2% | +2.1% | -13.2% | -6.1% | +13.9% | +17.9% |
| 2022 | -6.6% | -4.4% | -5.5% | -9.3% | -0.2% | -11.1% | +16.3% | -7.8% | -14.5% | +5.1% | +12.2% | -3.3% |
| 2021 | -2.8% | +24.3% | +4.4% | +7.7% | +3.0% | -2.3% | +12.5% | -0.2% | +1.1% | +6.9% | -8.2% | +13.5% |
| 2020 | -0.4% | -8.0% | -32.8% | +13.8% | +2.4% | +2.8% | -3.1% | +7.3% | -0.1% | +7.3% | +21.3% | +2.6% |
| 2019 | +14.3% | +8.8% | -0.6% | +5.3% | -12.2% | +12.3% | +3.3% | -1.4% | +1.4% | +1.0% | +6.5% | +7.5% |
| 2018 | +5.5% | +2.3% | +1.0% | -4.0% | +1.9% | +3.4% | +4.3% | -2.0% | -9.6% | -8.6% | +8.4% | -8.3% |
| 2017 | -3.6% | +17.3% | -2.3% | +2.9% | -2.6% | +4.4% | +4.4% | -5.0% | +5.0% | +3.8% | +10.3% | -0.1% |
| 2016 | -19.1% | -9.2% | +13.4% | +2.8% | +0.7% | -11.3% | +7.4% | +5.1% | -6.4% | -7.9% | +12.7% | +8.4% |
| 2015 | -5.6% | +5.9% | +13.0% | -1.0% | -0.3% | -3.2% | +2.6% | -15.7% | -0.1% | +16.5% | +0.5% | -7.7% |
| 2014 | +0.9% | +5.3% | -1.9% | -2.9% | +12.0% | +7.4% | -3.7% | +3.0% | -6.4% | +7.6% | +5.4% | +1.5% |
| 2013 | +8.4% | +12.0% | +4.5% | -4.1% | -4.3% | +0.8% | -0.8% | -5.6% | +5.8% | +0.4% | +4.3% | +8.5% |
| 2012 | +26.8% | -5.0% | +8.9% | -5.8% | -12.5% | -0.5% | -4.8% | +11.1% | +6.4% | -2.1% | +5.0% | +5.1% |
| 2011 | +8.3% | +12.8% | +6.6% | +0.0% | -1.0% | -5.0% | -13.2% | -30.5% | -11.2% | +32.1% | -5.5% | -9.5% |
| 2010 | -9.4% | +7.3% | +20.1% | +9.3% | -8.6% | -14.0% | +24.9% | -3.4% | +11.3% | +0.4% | +4.6% | +6.7% |
| 2009 | -16.7% | -19.7% | +39.4% | +86.1% | -2.7% | +28.2% | +16.5% | +8.6% | -0.8% | -11.8% | +10.4% | +18.7% |
| 2008 | -10.1% | +3.6% | +7.9% | +6.8% | -2.9% | -14.5% | -26.8% | -7.0% | +2.3% | -47.6% | -35.0% | -5.3% |
| 2007 | +13.3% | -11.4% | +2.6% | -1.0% | +10.0% | -1.9% | -4.3% | -15.5% | -5.7% | -12.4% | -2.6% | -9.3% |
| 2006 | +7.2% | +8.8% | +17.5% | +8.9% | -12.0% | -3.5% | -5.5% | -2.3% | +7.0% | +22.1% | +9.7% | +0.8% |
| 2005 | +4.3% | +3.2% | -3.1% | -0.7% | +10.7% | +14.0% | +5.0% | +5.9% | +0.9% | -0.7% | +13.6% | +6.1% |
| 2004 | — | — | — | — | — | — | -0.9% | +3.0% | +18.5% | +12.1% | +4.6% | +23.8% |
| Avg | +1.6% | +2.0% | +3.1% | +4.9% | -1.3% | +1.3% | +3.4% | -2.0% | -0.1% | +0.9% | +4.8% | +3.2% |
| Median | +2.6% | +3.4% | +3.5% | +1.4% | -0.7% | +0.8% | +3.3% | -0.8% | +0.4% | +0.7% | +6.3% | +2.0% |
| Last 5Y Avg | +2.7% | -2.7% | -6.1% | -3.2% | -2.2% | +1.5% | +13.9% | +0.1% | -4.3% | +1.6% | +6.2% | +4.3% |
| Std Dev (σ) | 11.0% | 10.6% | 14.0% | 19.2% | 7.1% | 10.3% | 12.0% | 9.4% | 8.2% | 15.3% | 11.1% | 9.5% |
| Consistency (μ/σ) | 0.14 | 0.19 | 0.22 | 0.26 | -0.19 | 0.12 | 0.28 | -0.21 | -0.02 | 0.06 | 0.43 | 0.34 |
| Win Rate (%) | 55% | 59% | 59% | 55% | 41% | 52% | 59% | 45% | 50% | 59% | 82% | 59% |
| Winning / Losing Months | ▲12▼10 | ▲13▼9 | ▲13▼9 | ▲12▼10 | ▲9▼13 | ▲11▼10 | ▲13▼9 | ▲10▼12 | ▲11▼11 | ▲13▼9 | ▲18▼4 | ▲13▼9 |
| Longest Win / Loss Streak | ▲4▼3 | ▲3▼2 | ▲8▼2 | ▲4▼4 | ▲2▼6 | ▲4▼3 | ▲5▼4 | ▲3▼3 | ▲3▼3 | ▲4▼3 | ▲9▼2 | ▲3▼2 |
| Best | +26.8%in January 2012 | +24.3%in February 2021 | +39.4%in March 2009 | +86.1%in April 2009 | +12.0%in May 2014 | +28.2%in June 2009 | +26.5%in July 2024 | +11.1%in August 2012 | +18.5%in September 2004 | +32.1%in October 2011 | +21.3%in November 2020 | +23.8%in December 2004 |
| Worst | -19.1%in January 2016 | -19.7%in February 2009 | -32.8%in March 2020 | -10.6%in April 2024 | -12.5%in May 2012 | -14.5%in June 2008 | -26.8%in July 2008 | -30.5%in August 2011 | -14.5%in September 2022 | -47.6%in October 2008 | -35.0%in November 2008 | -9.5%in December 2011 |
−47.6%+86.1%
2026
Jan+5.9%
Feb-13.3%
Mar-8.3%
Apr+5.4%
May-12.4%
Jun+6.7%
Jul—
Aug—
Sep—
Oct—
Nov—
Dec—
2025
Jan+10.2%
Feb-1.9%
Mar-7.9%
Apr-6.6%
May+2.3%
Jun+12.1%
Jul+11.1%
Aug+4.1%
Sep-2.8%
Oct-3.3%
Nov+6.2%
Dec-0.6%
2024
Jan-7.3%
Feb+6.5%
Mar+5.8%
Apr-10.6%
May+1.4%
Jun+1.2%
Jul+26.5%
Aug+2.2%
Sep+8.1%
Oct+5.2%
Nov+6.9%
Dec-6.2%
2023
Jan+11.1%
Feb-0.4%
Mar-14.5%
Apr+5.3%
May-2.3%
Jun+7.7%
Jul+3.2%
Aug+2.1%
Sep-13.2%
Oct-6.1%
Nov+13.9%
Dec+17.9%
2022
Jan-6.6%
Feb-4.4%
Mar-5.5%
Apr-9.3%
May-0.2%
Jun-11.1%
Jul+16.3%
Aug-7.8%
Sep-14.5%
Oct+5.1%
Nov+12.2%
Dec-3.3%
2021
Jan-2.8%
Feb+24.3%
Mar+4.4%
Apr+7.7%
May+3.0%
Jun-2.3%
Jul+12.5%
Aug-0.2%
Sep+1.1%
Oct+6.9%
Nov-8.2%
Dec+13.5%
2020
Jan-0.4%
Feb-8.0%
Mar-32.8%
Apr+13.8%
May+2.4%
Jun+2.8%
Jul-3.1%
Aug+7.3%
Sep-0.1%
Oct+7.3%
Nov+21.3%
Dec+2.6%
2019
Jan+14.3%
Feb+8.8%
Mar-0.6%
Apr+5.3%
May-12.2%
Jun+12.3%
Jul+3.3%
Aug-1.4%
Sep+1.4%
Oct+1.0%
Nov+6.5%
Dec+7.5%
2018
Jan+5.5%
Feb+2.3%
Mar+1.0%
Apr-4.0%
May+1.9%
Jun+3.4%
Jul+4.3%
Aug-2.0%
Sep-9.6%
Oct-8.6%
Nov+8.4%
Dec-8.3%
2017
Jan-3.6%
Feb+17.3%
Mar-2.3%
Apr+2.9%
May-2.6%
Jun+4.4%
Jul+4.4%
Aug-5.0%
Sep+5.0%
Oct+3.8%
Nov+10.3%
Dec-0.1%
2016
Jan-19.1%
Feb-9.2%
Mar+13.4%
Apr+2.8%
May+0.7%
Jun-11.3%
Jul+7.4%
Aug+5.1%
Sep-6.4%
Oct-7.9%
Nov+12.7%
Dec+8.4%
2015
Jan-5.6%
Feb+5.9%
Mar+13.0%
Apr-1.0%
May-0.3%
Jun-3.2%
Jul+2.6%
Aug-15.7%
Sep-0.1%
Oct+16.5%
Nov+0.5%
Dec-7.7%
2014
Jan+0.9%
Feb+5.3%
Mar-1.9%
Apr-2.9%
May+12.0%
Jun+7.4%
Jul-3.7%
Aug+3.0%
Sep-6.4%
Oct+7.6%
Nov+5.4%
Dec+1.5%
2013
Jan+8.4%
Feb+12.0%
Mar+4.5%
Apr-4.1%
May-4.3%
Jun+0.8%
Jul-0.8%
Aug-5.6%
Sep+5.8%
Oct+0.4%
Nov+4.3%
Dec+8.5%
2012
Jan+26.8%
Feb-5.0%
Mar+8.9%
Apr-5.8%
May-12.5%
Jun-0.5%
Jul-4.8%
Aug+11.1%
Sep+6.4%
Oct-2.1%
Nov+5.0%
Dec+5.1%
2011
Jan+8.3%
Feb+12.8%
Mar+6.6%
Apr+0.0%
May-1.0%
Jun-5.0%
Jul-13.2%
Aug-30.5%
Sep-11.2%
Oct+32.1%
Nov-5.5%
Dec-9.5%
2010
Jan-9.4%
Feb+7.3%
Mar+20.1%
Apr+9.3%
May-8.6%
Jun-14.0%
Jul+24.9%
Aug-3.4%
Sep+11.3%
Oct+0.4%
Nov+4.6%
Dec+6.7%
2009
Jan-16.7%
Feb-19.7%
Mar+39.4%
Apr+86.1%
May-2.7%
Jun+28.2%
Jul+16.5%
Aug+8.6%
Sep-0.8%
Oct-11.8%
Nov+10.4%
Dec+18.7%
2008
Jan-10.1%
Feb+3.6%
Mar+7.9%
Apr+6.8%
May-2.9%
Jun-14.5%
Jul-26.8%
Aug-7.0%
Sep+2.3%
Oct-47.6%
Nov-35.0%
Dec-5.3%
2007
Jan+13.3%
Feb-11.4%
Mar+2.6%
Apr-1.0%
May+10.0%
Jun-1.9%
Jul-4.3%
Aug-15.5%
Sep-5.7%
Oct-12.4%
Nov-2.6%
Dec-9.3%
2006
Jan+7.2%
Feb+8.8%
Mar+17.5%
Apr+8.9%
May-12.0%
Jun-3.5%
Jul-5.5%
Aug-2.3%
Sep+7.0%
Oct+22.1%
Nov+9.7%
Dec+0.8%
2005
Jan+4.3%
Feb+3.2%
Mar-3.1%
Apr-0.7%
May+10.7%
Jun+14.0%
Jul+5.0%
Aug+5.9%
Sep+0.9%
Oct-0.7%
Nov+13.6%
Dec+6.1%
2004
Jan—
Feb—
Mar—
Apr—
May—
Jun—
Jul-0.9%
Aug+3.0%
Sep+18.5%
Oct+12.1%
Nov+4.6%
Dec+23.8%
Avg
Jan+1.6%
Feb+2.0%
Mar+3.1%
Apr+4.9%
May-1.3%
Jun+1.3%
Jul+3.4%
Aug-2.0%
Sep-0.1%
Oct+0.9%
Nov+4.8%
Dec+3.2%
Median
Jan+2.6%
Feb+3.4%
Mar+3.5%
Apr+1.4%
May-0.7%
Jun+0.8%
Jul+3.3%
Aug-0.8%
Sep+0.4%
Oct+0.7%
Nov+6.3%
Dec+2.0%
Last 5Y Avg
Jan+2.7%
Feb-2.7%
Mar-6.1%
Apr-3.2%
May-2.2%
Jun+1.5%
Jul+13.9%
Aug+0.1%
Sep-4.3%
Oct+1.6%
Nov+6.2%
Dec+4.3%
Std Dev (σ)
Jan11.0%
Feb10.6%
Mar14.0%
Apr19.2%
May7.1%
Jun10.3%
Jul12.0%
Aug9.4%
Sep8.2%
Oct15.3%
Nov11.1%
Dec9.5%
Consistency (μ/σ)
Jan0.14
Feb0.19
Mar0.22
Apr0.26
May-0.19
Jun0.12
Jul0.28
Aug-0.21
Sep-0.02
Oct0.06
Nov0.43
Dec0.34
Win Rate (%)
Jan55%
Feb59%
Mar59%
Apr55%
May41%
Jun52%
Jul59%
Aug45%
Sep50%
Oct59%
Nov82%
Dec59%
Winning / Losing Months
Jan▲12▼10
Feb▲13▼9
Mar▲13▼9
Apr▲12▼10
May▲9▼13
Jun▲11▼10
Jul▲13▼9
Aug▲10▼12
Sep▲11▼11
Oct▲13▼9
Nov▲18▼4
Dec▲13▼9
Longest Win / Loss Streak
Jan▲4▼3
Feb▲3▼2
Mar▲8▼2
Apr▲4▼4
May▲2▼6
Jun▲4▼3
Jul▲5▼4
Aug▲3▼3
Sep▲3▼3
Oct▲4▼3
Nov▲9▼2
Dec▲3▼2
Best
Jan+26.8%2012
Feb+24.3%2021
Mar+39.4%2009
Apr+86.1%2009
May+12.0%2014
Jun+28.2%2009
Jul+26.5%2024
Aug+11.1%2012
Sep+18.5%2004
Oct+32.1%2011
Nov+21.3%2020
Dec+23.8%2004
Worst
Jan-19.1%2016
Feb-19.7%2009
Mar-32.8%2020
Apr-10.6%2024
May-12.5%2012
Jun-14.5%2008
Jul-26.8%2008
Aug-30.5%2011
Sep-14.5%2022
Oct-47.6%2008
Nov-35.0%2008
Dec-9.5%2011
−47.6%+86.1%
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