Given the resilient economy and persistent inflation, CBRE has pushed back the timing for a potential recession to late 2023 into Q1 2024, one quarter later than our original forecast. We therefore have extended our forecast for a recovery in commercial real estate investment volume and stabilization in cap rates by roughly one to two quarters, pushing expected improvements into 2024. Investment volume is forecast to fall by 37% year-over-year in 2023 and rise by 15% in 2024, while cap rate expansion will continue for the rest of 2023, albeit at a slower rate. Read the full article...
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