Deal activity may have been slowed by the looming specter of tax reform, which prompted investors to delay transaction closings until the new, advantageous legislation took effect in 2018, according to Ten-X.
No, Ten-X's Peter Muoio tells GlobeSt.com—the movement was mixed across the property segments, and rising interest rates and increasing supply in certain segments and markets could pressure NOI and therefore prices.
Certain markets have not been able to generate the job growth and leasing to work off the high vacancies left by the Great Recession, and other markets that enjoyed stronger fundamentals are now contending with increased supply, Ten-X's Peter Muoio tells GlobeSt.com.
Buyers and sellers are diverging in their pricing expectations, "which led to a Q3 marked by tepid deal volume and pricing,” says Peter Muoio at Ten-X.
Overall, commercial property pricing slipped in November for the seventh consecutive month, a trend that Ten-X's Peter Muoio says is a reflection of ongoing investor wariness.