Jan
02
Originally published on December 12, 2023, by CBRE.
Economic growth is expected to slow in 2024 and real estate transaction values should decline further, which could create compelling buying opportunities, although lending is expected to remain tight, CBRE reported Dec. 14 in its 2024 U.S. Real Estate Outlook. However, the firm also reported that it expects commercial real estate values to rebound during the second half of the year.
Executive Summary
- There is an increased chance that the U.S. will avoid a recession and achieve a soft economic landing in 2024, but economic growth will slow and downside risks are elevated.
- Commercial real estate investment activity likely will begin to pick up in the second half of 2024.
- The normalization of hybrid working arrangements will continue to limit the growth of office demand.
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