JLL found office sales saw the steepest drop in late 2022 from late 2021, nearly 40% lower. As it stands, most are still priced a little too high. I think the market is going to have to adjust starting in the middle of next year.
It's the end of the year as we know it, and investors feel — uncertain. Rate hikes have slowed deals in the second half of 2022 and Fed Chair Jay Powell said there's more pain to come. But how long will all the available dry powder stagnate on the sidelines? Deconstruct breaks down 2023 forecasts for multifamily, retail, industrial and office and chats with Moody's Senior Economist Thomas LaSalvia about when the deal dam might break.