A new survey of the 60 commercial real estate executives that make up the CRE Finance Council’s Board of Governors shows that they are optimistic about ongoing trends, but there is still uncertainty in the coming year.
For instance, 84% of the board said they are seeing the same or more activity today than prior to the pandemic, while 47% said they predict foreclosures to remain relatively low.
However, 67% of respondents said that the overall economy could perform better over the next year, a dip from the 88% who said the same during the second quarter.
In terms of the office industry, 28% of the board said that asset classes would experience the worst activity post-pandemic in these third quarter findings, increasing from just 5% expressing the same during the previous quarter. This likely indicates that hybrid and remote work models could impact activity within these buildings.