National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


National  + Finance  | 

CREFC Sentiment Index Registers Sharp Upturn from Prior Quarter

The CRE Finance Council (CREFC) said Thursday that its Fourth-Quarter 2023  Board of Governors (BOG) Sentiment Index survey marked a significant upturn, registering at 109.9 – a 33% increase from the previous quarter’s 82.7. This represents the largest quarterly increase since the survey’s inception, indicating a notable shift in industry sentiment. 

While the survey’s core questions on topics such as economic optimism, industry sentiment, and financing and liquidity painted a broadly positive picture, the additional open-ended responses highlighted some concerns, according to CREFC.  

These included apprehensions about rate cuts amidst a slowing economy, multifamily sector challenges, and uncertainties in financing and liquidity. Concerns were also noted about the potential for increased inflation, slower GDP growth, and sector-specific issues such as multifamily oversupply and office sector stagnation. 

“The significant rise in the Sentiment Index underscores a cautiously optimistic outlook in the CRE finance industry, said Lisa Pendergast, executive director, CREFC. “While we are navigating through a landscape of economic uncertainties and sector-specific challenges, the overall sentiment reflects confidence in the resilience and adaptability of the market. It’s a testament to the industry’s robustness in the face of evolving macroeconomic conditions.” 


Inside The Story


About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
  • ◦Economy
New call-to-action
New call-to-action