A recent investor survey by Marcus & Millichap reveals that while CRE transactions may level out this year, investor sentiment remains strong.
The mid-year survey's headline index value of 159 is "somewhat reminiscent of the trend we saw in 2016,"in which sentiment declined a bit as higher interest rates bit into the market, says Marcus & Millichap's John Chang. "But they're not down by as much as people might expect," he says.
In 2016, the index declined 12 points and the number of CRE transactions flattened. This year, the index has declined 11 points and that could deliver relatively similar results, in what Chang calls a "relatively modest softening."
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