Republished with permission from SIOR.

While CBRE has reported that U.S. CRE investment volume fell by 54% from Q3 2022 to Q3 2023, today there are signs that may indicate a potential increase in transaction volume in 2024.

Ten-X’s national director of training, Ian Grusd, recently joined the Society of Industrial and Office Realtors (SIOR) for a discussion on emerging trends in the 2024 office and industrial markets, offering his insights and predictions based on his findings from Q1. Grusd found that the key may lie in CRE sellers’ willingness to adjust their pricing to align with the market.

“The bid-ask spread is the most significant trend for Ten-X because that determines transaction volume,” said Grusd. “There are people who want to buy and people who want to sell, but there’s been a huge bid-ask gap.”

Grusd has seen that 68% of property owners on the Ten-X platform have adjusted their pricing from the initial ask, with office owners being the most flexible followed by hotels and industrial property owners.

Visit SIOR to read the full report.