NEW ORLEANS—Commercial brokers have a more positive view of current conditions than they do of the future, according to Capital One Securities' first-ever survey of the brokerage community, issued Tuesday. On a scale of 0 to 10, current conditions came in averaged 7.2 across regions and property types, while the outlook for six months from now was more tempered, coming in at 6.0.
In terms of current conditions, the Mountain and West regions led the nation at 7.9 while the Southwest lagged at 6.1. By sector, industrial and retail came in with an average of 7.7 and 7.6, respectively, while office trailed at 6.9. Tenant and landlord reps averaged 7.3 and 7.2, respectively, while investment sales brokers averaged 7.0.
“Buyers are not as aggressive on pricing,” one survey respondent, a Washington, DC-area industrial sales broker, comments. “No shortage of money to buy deals, but pricing [is] a little softer.”
Change in current conditions over the past month averaged 5.2 on a scale of 0 to 10 across the nation, with 0 representing “greatly deteriorated” and 10 being “greatly improved.” Notwithstanding an average above 5 indicating an improvement in business conditions, the distribution was skewed, with 64% of respondents answering 4 or 5.
Looking at future conditions, the distribution was skewed to the upper half of the range. However, Capital One Securities says the average suggests that future conditions are still expected to be good, although slightly less so than current conditions.
Survey respondents' change in expectations of future conditions over the past month averaged 5.2 on a scale of 0 to 10. Here, the distribution was especially skewed, with 71% of respondents answering 4 or 5.
“Our aim was to create a survey similar to some macroeconomic sentiment indicators,” writes Chris Lucas, senior managing director at Capital One Securities, in an industry note. “For the week of Monday, Sept. 19 through Sunday, Sept. 25, we had 198 responses.”
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in New York City. Learn more.
NEW ORLEANS—Commercial brokers have a more positive view of current conditions than they do of the future, according to
In terms of current conditions, the Mountain and West regions led the nation at 7.9 while the Southwest lagged at 6.1. By sector, industrial and retail came in with an average of 7.7 and 7.6, respectively, while office trailed at 6.9. Tenant and landlord reps averaged 7.3 and 7.2, respectively, while investment sales brokers averaged 7.0.
“Buyers are not as aggressive on pricing,” one survey respondent, a Washington, DC-area industrial sales broker, comments. “No shortage of money to buy deals, but pricing [is] a little softer.”
Change in current conditions over the past month averaged 5.2 on a scale of 0 to 10 across the nation, with 0 representing “greatly deteriorated” and 10 being “greatly improved.” Notwithstanding an average above 5 indicating an improvement in business conditions, the distribution was skewed, with 64% of respondents answering 4 or 5.
Looking at future conditions, the distribution was skewed to the upper half of the range. However,
Survey respondents' change in expectations of future conditions over the past month averaged 5.2 on a scale of 0 to 10. Here, the distribution was especially skewed, with 71% of respondents answering 4 or 5.
“Our aim was to create a survey similar to some macroeconomic sentiment indicators,” writes Chris Lucas, senior managing director at
More than 300 of the industry's leading national investors, REITs, banks, private equity firms, asset management firms and other institutions will join us as we explore the market conditions behind the trends at this year's RealShare National Investment & Finance, scheduled for Oct. 5 and 6 at the Roosevelt Hotel in
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