CRE 2024: Not negative?

In last week’s CREFC conference, a panelist perfectly captured the initial CRE outlook for 2024 as “not negative.” There's much in those two words but also in what's not being said.

On this week’s podcast episode, we recap key themes for the 2023 CRE market, including the importance of monetary policy and the potential potency of technology, also saw capital and credit concerns overshadowing positive factors. Looking ahead to 2024, we discuss the latest macroeconomic indicators covering jobs, inflation, consumer credit, construction spending, rates expectations and more!

For a more in-depth recap of 2023's trends, check out the US Monthly Market Update article on the Altus Group website.

Key takeaways:

(01:06) 2023 market recap.

(04:00) Initial themes for 2024.

(05:58) December jobs numbers from JOLTS.

(09:19) December inflation numbers from the Consumer Price Index and Producer Price Index.

(10:22) Consumer credit.

(12:59) Construction spending.

(15:30) Rate expectations – Fed vs. Market.

(16:48) Q4 earnings from the big 4 US banks.

(18:34) CREFC conference top takeaways.

(23:01) Upcoming data releases and earnings.

(24:30) Announcements.

Resources mentioned during this episode:

Q1 2024 CRE Industry Conditions and Sentiment Survey - https://www.altusgroup.com/insights/cre-industry-conditions-and-sentiment-survey-register/

Job Openings and Labor Turnover Survey (JOLTS) - https://www.bls.gov/jlt/

Consumer Price Index - https://www.bls.gov/cpi/

Producer Price Index - https://www.bls.gov/ppi/

Consumer credit - https://www.federalreserve.gov/releases/g19/current/

Construction spending - https://www.census.gov/construction/c30/pdf/release.pdf

CREFC - https://www.crefc.org/

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