The results of the latest Apto National Broker Buzz Poll are in. Brokers are buzzing about:
- Commercial property sale prices. Brokers believe prices have peaked for multifamily and retail properties, but not for office and industrial real estate.
- Timing of the next economic recession. Brokers believe the next U.S. recession is not likely to arrive before 2020.
- Interest rate hikes. Brokers say the Federal Reserve’s interest rate hikes are not yet slowing down commercial real estate sales activity.
- Steak! Commercial real estate brokers grilled steak on the barbecue this past Fourth of July holiday weekend. See the actual survey results below to learn brokers’ next-favorite grilled meats of choice!
Thanks to those members of the commercial real estate broker community who participated in the poll, which was conducted during the last two weeks of June by Apto, the tech platform for commercial real estate brokers. Specific survey questions and answers follow below.
Survey Questions and Answers
Have property prices peaked in your market?
40% - Yes
60% - No
31% - Yes
69% - No
61% - Yes
39% - No
70% - Yes
30% - No
Are higher interest rates slowing down sales activity in your market?
Yes - 44%
No - 56%
What are the chances of a national economic recession by 2020?
More than 80% - 15%
60-70% - 17%
50% - 27%
30-40% - 21%
Less than 20% - 20%
Summer Bonus Question:
What is your grilled meat of choice for barbecuing?
Steak - 46%
Burgers - 17%
Ribs - 15%
Chicken - 14%
Hot dogs/sausages - 8%
Apto will be conducting periodic national and local polls of CRE brokers, including Apto customers and non-customers.