After a more-than-sluggish 2023 when it comes to commercial real deals, Marcus & Millichap sees a revival in 2024, according to John Chang, its National Director of Research and Advisory Services.
Leading the revival is that the industry is resilient, interest rates have started to come down and will continue to do so, and approximately $240 billion of capital targeting commercial real estate is a waiting entry to the market.
Depending on how you measure it sales were down by 20% to 25% compared to the average number of transactions between 2014 and 2019, said Chang, speaking on a company news video.
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