Moody's CMBS view of CRE markets, with its red-yellow-green traffic light symbolism is once again lighting up U.S. property markets as of the end of 2023.
They use data from CBRE Econometric Advisors, sometimes additional information, and score on a 0 to 100 scale. Red, which means under stress, is 0 to 33 and indicates a tenants' market. Yellow, on the edge of imbalance, is 34 to 66. Green, where demand outpaces growth in supply, is 67 to 100 and a landlords' market.
The overall score of 59, which would be a solid yellow, was the same as the third quarter. "Retail had the highest score (Green 86), followed by multifamily (Green 75), industrial (Yellow 59), hotel (Yellow 39), CBD office (Yellow 36) and suburban office (Yellow 34)," Moody's wrote.
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