Trends aren't unbeatable statements of fate woven by the three Greek Moirai, or Fates. But the immediate past often gives some idea how things might go, at least for the near future. From that view, the end of 2023 was a major bummer, according to MSCI.
Typically, the fourth quarter of a year is the strongest for commercial real estate investment and, so, property sales. Investors often have capital at hand. They've looked at assets, considering the pros and cons. After the CRE conferences that happen in the fall, there's a flurry of activity as deals finally get struck.
That didn't seem to happen as 2023 closed. There were $89.5 billion in transactions, but that was the worst quarter of the year, not the best. The year-over-year change was -41%.
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