In one part of its Fall 2022 Sentiment report, LightBox had noted inflation and recession concerns for CRE investors. When it came to an office sector analysis later in the document, though, maybe the concern should have been for the basics of economics, because one dynamic on the surface seemed odd.
As LightBox mentioned, a first half of the office sector in 2022 compared to the same time period in 2021 showed a peculiar dynamic: volume significantly up and, in a number of markets, prices significantly down.
"While sales volume increased in all markets except The Bay Area, several markets saw PSF pricing decline," the firm wrote.
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