A constraint on supply combined with higher demand can make conditions look better than they are, however.

BGO notes that for CRE, conditions that should be positive are superseded by Fed policy.

MetaProp, a VC firm focused on proptech, offered a take on the confidence of investors and CEOs of start-ups in the industry. But the methodology offers little confidence in the purported results.

However, there has been some good news here and there according to CoStar.

MSCI says that more double-digit declines in the sector still haven't been enough.

Government-sponsored enterprises are still the big lenders in the field.

The walkthroughs allow companies to create tours of pre-determined areas for clients and stakeholders.

Even national imbalances of supply and demand leave better and worse locations for investors and developers.