IRVINE,
Calif., Aug. 8, 2024 /PRNewswire/ -- LightBox, a
leading provider of commercial real estate (CRE) information and
technology, released its Monthly CRE Activity Index for July,
reflecting little change, despite broader economic volatility.
The LightBox Monthly CRE Activity Index provides an aggregate
view of the market with information on property listings, due
diligence, and valuation activity enabling market participants to
identify inflection points in CRE activity. July's aggregate index
came in at 92.4 showing little change from June's 92.3 reading, but
a pronounced increase from the July
2023 reading of 81.4.
According to the report commentary, the latest improvement in
the CRE Activity Index supports anecdotal evidence that the
momentum that first took root in early 2024 continues despite
recent disappointing data on job growth, unemployment, and
wages.
July brought encouraging signs of more portfolios changing
hands, a healthy influx of bidders on individual property listings,
and a new round of sales across asset classes and geographies. An
analysis of the LightBox data on nondisclosure agreements (NDAs) by
asset class revealed that buyer interest in listings for
multifamily and retail are above the national average across all
property types. As dealmaking builds steam, it brings more clarity
to pricing and sends a powerful message to the market that prices
are not likely to fall much more.
"We saw high volatility in the market in July, yet the CRE
market continued to soldier on. Lenders are lending. Sales are
taking place," observed Manus Clancy, LightBox head of Data
Strategy. "As we've discussed in our recent CRE Weekly Digest
podcast, the market is looking past volatility to focus on closing
the deals that make sense. The silver lining for the CRE market is
that falling Treasury yields should support strong asset prices,"
Clancy said.
The ability of CRE to exhibit resilience amid a disappointing
round of market indicators and significant uncertainty is
encouraging for the near-term forecast, although the market is not
out of the woods yet. Five months of steady increases in the
LightBox CRE Activity Index are fueling cautious optimism. Whether
August and September continue the trend remains to be seen, but "if
cap rates compress," Clancy predicted, "we'll see a real uptick in
activity in the coming months because investors will not want to be
left behind."
Read the full report
About LightBox
At LightBox, we are at the forefront of delivering advanced and
precise solutions for commercial real estate intelligence. Our
dedication to innovation propels real estate professionals forward
by providing them with the essential tools required to navigate
complex decisions, minimize risk, and boost productivity across the
spectrum of real estate operations. LightBox is renowned for its
commitment to promoting excellence and fostering connections in the
industry, serving an extensive clientele of over 30,000 customers.
Our diverse client base spans commercial and government sectors,
including but not limited to brokers, developers, investors,
lenders, insurers, technologists, environmental advisors,
appraisers, and other businesses that depend on geospatial
information. To discover more about how LightBox can illuminate the
path to informed real estate solutions, visit us at:
www.LightBoxRE.com
Media inquiries: media@lightboxRE.com
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SOURCE LightBoxRE