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LightBox Activity Index Sees Monthly Decline but Outperforms Year-Ago Period
LightBox said its Monthly CRE Activity Index for November recorded a reading of 80.5, reflecting a 15.4-point month-over-month decline. Nonetheless, the Index, which aggregates activity in listings, environmental due diligence and appraisals, continued outperforming the same period in 2023.
For the past three years, the October-to-November Index decline has averaged 14.7 points. This year’s slightly steeper decline was likely a function of market uncertainty reflected by recent volatility in the U.S. 10-year Treasury yield. More encouraging, though, was the improvement year over year, with the November Index landing 12.7 points higher than November 2023’s 67.8 reading.
“Despite the seasonal decline, November’s Index points to resilient momentum in the market, with sellers showing more willingness to list properties, appraisers taking on more work to support lender activity and environmental due diligence consultants seeing a rise in projects tied to new loans, sales and refinancing,” said Manus Clancy, LightBox head of data strategy.
- ◦Sale/Acquisition
