WASHINGTON, DC-The Real Estate Roundtable’s Sentiment Index has fallen to a disconcerting low last seen in the fall of 2009. It is the second quarter in a row that the index has dropped, after turning a corner at the beginning of the year with a positive reading.
After holding steady at 77, out of 100 points in Q2, the index tumbled to 69 in Q3 and then to 59 in the latest survey. The reasons for the drop are not surprising, Roundtable CEO Jeff DeBoer tells GlobeSt.com. “It is a reflection of confidence levels -- and confidence is declining, not just in the real estate industry but throughout the economy.” The survey covered the time period when it was unclear whether a debt resolution would be reached in Europe, he noted. It also didn’t include the recent positive GDP numbers that posted this week.
Still, DeBoer expects to see the index flatline at this level for the foreseeable future. “People need to catch their breath and what policy settle in a particular direction,” he said.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
