Low transaction activity in the commercial real estate markets has some looking for "secret" distress, and while the growing perception that interest rates will remain high is slowly impacting price discovery, there is still room for prices to reach a point that would bring sales volumes in line with historical averages.

Sources cited in this episode:

CBRE: “Spiking 10-Year Treasury Rate Signals Caution for Commercial Real Estate” - https://www.cbre.com/insights/viewpoints/spiking-10-year-treasury-rate-signals-caution-for-commercial-real-estate

Globe Street: “Maybe Secret Distress Is Behind CRE Market Performance” - https://www.globest.com/2023/08/29/maybe-secret-distress-is-behind-cre-market-performance/

Marcus & Millichap: “Are CRE Prices Still Too High?” - https://www.marcusmillichap.com/research/videos/are-cre-prices-still-too-high

RealPage: “Multifamily Permitting Down by Almost One-Third”
- https://www.realpage.com/analytics/multifamily-permitting-down-july-2023/

Fannie Mae: “Multifamily Economic and Market Commentary, August 2023” - https://www.fanniemae.com/media/48731/display

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