Economic data have improved incrementally in recent months, signaling perhaps that the economy is headed for a soft landing and commercial real estate could have a strong year overall, according to John Chang, senior vice president of research services, Marcus & Millichap.
In 2022, the outlook in January was for 2.6% growth but then it steadily moved downward through October, when the forecast hit its trough at 0.2%. In 2023, it's now forecasted for 0.7% growth.
"That sounds like a soft landing to me," Chang said in a recent economic update video Marcus & Millichap produced.
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