Howard Schnapp | Newsday | Getty ImagesThe tide could be turning for commercial real estate.
That could give interest rate-sensitive sectors such as commercial real estate long-awaited positive momentum.
While lower rates are not a "magic bullet," the easing of the Fed's monetary policy "lays the groundwork for a commercial real estate recovery," analysts wrote in a follow-up report in late September.
More than $40 billion in transactions occurred during the second quarter, a 13.9% jump quarter over quarter, but still 9.4% lower year over year, according to real estate data intelligence firm Altus Group.
While these dynamics could set the stage for a broader recovery, with some major subsectors such as commercial retail real estate picking up in tandem, the path forward will likely be uneven.
Persons:
Howard Schnapp, Alan Todd, Todd, Willy Walker, Walker, Dunlop, what's, Wells, Wells Fargo, —, Chad Littell, Littell
Organizations:
Newsday, Federal Reserve, Bank of America, CNBC, REIT, Real, Board, New York, U.S, Capital
Locations:
Melville , New York, Wells, U.S, Manhattan, Wells Fargo