MSCI's overall capital trends analysis for August 2023 is what active CRE professionals would probably expect, which is another indication of disappointment.
"A steady pace of annual declines in commercial property sales started in August of last year and continued into last month," they wrote. "The sharpest declines started into Q4 2022 and there are few signs suggesting that investors will step in from the sidelines to drive sales back to the levels seen last year."
But MSCI explicitly said that a purely negative view of the future is probably off-base, as there are some "hopeful signals."
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