CRE Leaders Expect Investment Sales Slowdown to Lift Later in 2023 (VIDEO)
Industry leaders across the finance and services spectrum of commercial real estate are in agreement on one thing: the likelihood of a near-term uptick in transaction volume for investment sales is pretty low at the moment. That was the consensus among leaders interviewed by Connect CRE at the National Multifamily Housing Council’s (NMHC) recent Annual Meeting in Las Vegas.
“We’re almost through Q1 and it’s been pretty slow, similar to Q4 of last year,” Lument CEO James P. (Jim) Flynn told Connect CRE. “So I don’t expect it to pick up here. Modest in the second quarter as people start to look at deals but I do expect to see some pickup in transaction volume in Q3 and Q4 of this year.”
In the video below, you’ll also hear insights from Marcus & Millichap CEO Hessam Nadji and Way Capital founder and senior managing partner Malcolm Davies. Nadji set the stage by pointing out that “the Fed’s aggressive moves delivered a shock to the real estate industry because of the successive interest rate increases coming so fast and in such a short period of time.”
Connect CRE will have more insights from NMHC’s 2023 Annual Meeting in the coming days.