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LightBox CRE Activity Index Records Modest Uptick for Q1
LightBox said its first-quarter CRE Activity Index showed an increase of 13.4 points from the three-year low seen in Q4 2023. On a year-over-year basis, though, Q1 2024’s index of 78.7 was slightly weaker than the 81.3 reading in Q1 2023.
“The uptick in the first quarter is confirmation that activity was increasing and a sign that hesitant investors and lenders were slightly more willing to put money to work than they were in Q4 2023,” said Manus Clancy, head of data strategy at the Irvine, CA-based provider of commercial real estate information and technology.
For the remainder of 2024, LightBox analysts forecast a continued upward trajectory, albeit at a slightly slower pace than forecasts earlier this year had projected. “With immediate rate cuts stalled, investment may be limited to opportunistic equity investors who are increasingly eager to deploy capital, focusing on distressed assets and refinancing activity as loans mature throughout the remainder of the year,” said Dianne Crocker, LightBox principal analyst.
- ◦Sale/Acquisition
- ◦Financing
