With commercial real estate transactions on ice amid elevated interest rates that opened a chasm between buyers and sellers, the big questions continue to be whether rates have peaked and when they might start to come down. The answers, according to economists interviewed by Bisnow, are probably and unlikely until late 2024 or even into 2025, despite indicators showing progress toward the Federal Reserve’s longstanding goal of 2% inflation. That means the commercial real estate market could remain in a frustrating holding pattern well into the new year or see a new era of “losers and winners” begin to take shape. 
Economists said policy all depends on numerous factors that are difficult to reliably predict. But the consensus was nothing is moving rapidly soon.“At this point, the most likely outcomes are either short-term rates don’t move next year or there’s maybe one cut,” said Xander Snyder, senior commercial real estate economist at First American… Read the full story here. | 
