A soft landing has been "baked in" for next year (but it is not guaranteed) and the pace of growth for commercial real estate will be slower in 2024 than it was in 2023, according to a new industry forecast video by Marcus & Millichap reviewing its macro perspective based on US averages.

"Individual assets, and even whole cities can and will outperform the broader national average," John Chang, its Senior Vice President, National Director of Research and Advisory Services, said.

"A soft landing would be a period of flat or nominal growth," he said. "In other words, GDP growth at or near 0% for part of the year."