Market confidence for a swift recovery is growing. According tothe May 2020 LightBox Market Confidence Index, 47%of all respondents expect a fourth quarter or early 2021 recovery.At an early survey in April, only 36% of respondents expected arecovery by the end of the year or early 2021, showing a markedimprovement.

"The sentiments of real estate professionals across the U.S. areimproving, but are still extremely cautious," DianneCrocker, principal analyst with LightBox, tellsGlobeSt.com.  The LightBox Market ConfidenceIndex in June continued to reflect the market's transition awayfrom the widespread worsening of conditions in April to a marketmaking its way down the path to recovery."

The sentiment has changed since April, which many are now seeingas the depths of the pandemic. "The most dramatic change inrespondents' sentiments in June was a collective sense thatcommercial real estate hit bottom in April and is now largely"stabilizing" or "improving." As employees venture back intooffices, a growing number of stakeholders are beginning tore-initiate property deals that were stalled during the marketshutdown, but the pace of recovery is slow," says Crocker."Concerns about rising COVID-19 infections in many states over thepast month is injecting uncertainty into the market forecast andcould drive down July readings."