National CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
LightBox CRE Activity Index Rebounds in January
The LightBox CRE Activity Index rose 28% in January to 110.7, rebounding from 86.7 in December. It marked the first return to triple digits since October and came in above January 2025’s 88.2 reading, signaling year-over-year improvement. The Index aggregates activity across property listings, lender appraisals and Phase I environmental site assessments (ESAs), providing an early read on capital deployment and underwriting momentum.
The firm cited three underlying signals driving January’s reading:
- Commercial listings: Average daily listings jumped 81% month over month following December’s seasonal lull and were 38% higher than last January.
- Phase I ESAs: Activity dipped 4% month over month but was 17% above year-ago levels, suggesting strengthening transaction pipelines.
- Lender appraisals: Down 5% month over month yet 40% higher Y-O-Y, reflecting increased underwriting and refinancing activity.
Preliminary Transaction Tracker data reinforce the rebound, LightBox said. January recorded 145 deals above $50 million, including 49 nine-digit transactions, totaling $24.1 billion, providing evidence that institutional capital remains active despite broader market uncertainty.
- ◦Sale/Acquisition
