CHICAGO—The CCIM Institute recently conducted a survey of its members for its Quarterly Market Trends report that provides yet more evidence of a broader economic recovery. The Chicago-based group, an affiliate of the National Association of Realtors®, found that 52% of the members that participated in the August/September 2014 market intelligence survey reported a greater overall deal flow than during the same time frame in 2013. And 60% said they fielded more serious inquiries from potential buyers than in the third quarter of last year.

Members also had greater success with industrial deals. Seventy-one percent of respondents told CCIM they experienced greater industrial deal flow year-over-year. In addition, 79% received more serious inquiries from potential buyers over the same period last year. And 46% of the respondents reported higher prices for these industrial assets and 42% reported that prices were flat. Cap rates seemed more stable, with 46% reporting steady rates and 42% reporting a decline.

The multifamily sector has been hot for some time, and CCIM members still consider it the best of the five main property types. On a scale of 1 to 5, multifamily investments ranked 4.0, followed by industrial at 3.6, retail at 3.2, hospitality at 3.2 and office at 2.8.

Other highlights include:
• In the South and East regions, 31.1% and 23.5% of respondents respectively said their regional economic climate is booming.
• In addition, 54% of CCIM member respondents said they expect credit conditions to continue to improve, while 40% said “the current financing climate is the new normal in their region.”