Commercial property prices are in retreat, but the pace of the fall in prices is moderating.
That is the finding of a new study of CRE deal volume by MSCI Real Assets.
There was a 63% year-over-year decline in deal activity in 2Q 2023. However, the study finds the more apt comparison is to the pre-Covid period from 2015-2019. By that standard, volume in 2Q 2023 was only 35% lower. "Clearly this retreat is not the sign of a healthy market, but it is not as bad as the headline drop of 63%," the study stated.
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