Price discovery continues to be a hot CRE topic, as industry experts have been telling GlobeSt.com since last fall. In times of uncertainty, it is difficult to know what to charge or pay for a property, leading to fewer sales and increased question over price.

One place prices do come out is in auctions, something that CRED iQ recently wrote about, noting that nearly $600 million in outstanding CMBS debt were auctioned from January 2023 through mid-June 2023 across about 70 actions.

The amount of data is admittedly thin. Out of those 70 auctions in the first half of 2023, "only nine sales auctioned assets with CMBS debt totaling $40 million were closed as of the June 2023 reporting period" because sales can take months to close.