Volatility has dominated the RCLCO Current Real Estate Market Sentiment Index (RMI) lately – with distress reaching 2020 COVID-19 levels – but respondents to its most recent survey suggest that the real estate market may have hit its low or will in the coming months.
Measured on a 100-point scale, the index has decreased 26.9 points over the past six months, and more notably has dropped 80.6 points since the most recent peak, landing on a low of 8.5 at 2022's year end.
The majority of respondents (90%) anticipate that the looming recession was "likely to be of shallow depth and of moderate duration" and 46% predict that "inflation will begin to decrease, while only 36% anticipate that it will increase." Two-thirds said that inflation will increase at mid-year.
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