Commercial broker confidence has returned. REBNY's Real Estate Broker Confidence Index hit 52.5 for expectations in the second quarter, a new record. When measuring current conditions, the survey reported a score of 20.8, falling slightly below the prior peak in the first quarter 2021.

Brokers in the survey stated that real estate related market issues were among the top concern with 22.8% of brokers making the claim. Real estate market issues include challenges arranging financing and buyer resistance to broker fees to improved market conditions, tightening inventory and favorable pricing for buyers and tenants. Commercial brokers also noted concern over office workplace strategy, but expected that return to office will fuel activity in the general market.

Local elections and government was another top concern of commercial brokers. More than a quarter of brokers said that current mayoral elections will impact leasing regulations and tenant support that will inform the apartment market.