A market can be big, relatively robust, and still have had the stuffing kicked out of it. That’s the overall good news/bad news of MSCI’s take on U.S. 2023 capital trends in commercial real estate. This isn’t surprising when the main thrust of the larger report was that end-of-year 2023 trends don’t bode well for 2024.

“All 25 of the most active U.S. markets of 2023 experienced large double-digit declines in transaction volume for the year,” the firm wrote. “Single asset sales made up a majority of the activity that did occur, with 20 of the top locales logging at least 80% of their volume in individual transactions.”


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Erik Sherman



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