The Real Estate Roundtable's 2020 Q2 Economic Sentiment Index registered a score of 38, confirming a sharp downturn in market conditions.
According to the report, which measures views of CEOs, presidents and other top commercial real estate industry executives, any score above 50 is viewed as positive. The new score of 38 is a 14 point drop from the Q1 score of 52. This comes as the US is still grappling with the COVID-19 pandemic. With no industry spared, Real Estate Roundtable President and CEO Jeffrey DeBoer said the commercial real estate industry experienced a sudden onset of economic disruptions.
"The economic damage to commercial real estate has been particularly harmful for the retail and lodging sectors of the industry," DeBoer said. "Although our Q2 survey results show there is hope for improved conditions within the next year, there are significant concerns that other sectors of the industry could be dragged down if jobs don't rebound and government assistance tapers off."
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