When it comes to industry sentiment, uncertainty is taking its toll as confidence in real estate conditions has plunged. Or maybe it's the growing certainty that something bad is about to happen.
CRE strategic advisory RCLCO released a new report saying that sentiment of real estate professionals has slipped nearly down to the range the firm associates with market distress and recession.
The RCLCO Current Real Estate Market Sentiment Index, which is a 100-point scale, slipped from the 82.1 at the end of 2021 to the current 35.1 in May. The firm says that a value of 30 is generally a sign of bad economic times for CRE markets.
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