CREFC Survey Sees Drop in Industry Sentiment
The CRE Finance Council’s Fourth-Quarter 2021 CREFC Board of Governors’ Sentiment Index shows a drop in overall sentiment for the second consecutive quarter. After hitting an all-time high of 119.2 in Q2 of last year, it now stands at 105.2.
The primary driver for the change was a meaningful shift in the outlook for the U.S. economy in 2022. The Q4 survey indicated only 27% of the board expects the economy to perform better, down from 67% in Q3.
“Given the increases in COVID-19 infections late in 2021 as a result of the Omicron variant, as well as continued inflationary pressures, it was not entirely surprising to see a drop in overall sentiment this quarter,” said Lisa Pendergast, executive director of CREFC. “However, we are better equipped as a country and an industry to weather the Omicron storm than at any other point in the pandemic.”
- ◦Economy
