That’s largely due to expectations of further Federal Reserve rate hikes in the first half of this year. The MBA forecasts that borrowing and lending will bounce to $887 billion in 2024.
“Uncertainty and volatility around the paths of the economy, interest rates, and property valuations will likely continue to cause instability for commercial real estate markets well into this year," Jamie Woodwell, MBA’s head of commercial real estate research, said in a statement.
