What are y’all seeing in your market in terms of sales transactions? Has it slowed down, are CAPs adjusting to inflation/interest rates? Are investors holding?
What do you see happening in next 3 - 9 months?
[{"id": "id0tk4g", "text": "Sales have significantly and people are waiting to see what will happen. Caps haven\u2019t really moved yet as nothing is trading - but stuff that has has been slightly higher. \n\nDon\u2019t have a crystal ball sadly.", "replies": [{"id": "id1ykxp", "text": "&gt;Don\u2019t have a crystal ball sadly.\n\nBest investment I ever made", "replies": [], "depth": 2}], "depth": 1}, {"id": "id0urbc", "text": "I am not noticing a change in CAP rates...still continuing to see plenty of QSR's come on the market at 4 CAP's and not getting call backs from listing agents because they are getting plenty of calls to double end them. \n\nNot sure what is going to happen, but I am getting more calls from potential tenants to lease space as well....so there is still plenty of activity happening (for leasing and sales). \n\nJust closed a deal for a client who got an SBA loan starting at 5.5% last week.", "replies": [], "depth": 1}, {"id": "id0zfxa", "text": "I feel like cap rates are so out of whack that they are currently leading to sellers slowly facing market realities but they won\u2019t adjust fast enough until sellers are in a really bad situation. 9 to 12 months at a minimum for them to adjust to new market realities is my guess.", "replies": [], "depth": 1}, {"id": "id0zz9m", "text": "Caps up generally - industrial is over 5%. User sales down. Investors still hunting hard. Banks cautious but lending. Generally what I would call a decent balance in my market. Never had the chance in most sectors to over build.", "replies": [], "depth": 1}, {"id": "id228q6", "text": "I think it\u2019s going to be market specific and obviously asset type, Austin may be a whole lot different than Detroit, office will be much different than multi. Hard to notice cap rates in real time change but we\u2019re buying a multi deal now and I think we\u2019re 50 bps higher than where it would have traded 3 months ago. Some sellers will accept it but most won\u2019t so we\u2019ll see a slow down in transactions. I think values hold, buyers get pickier, but the money raised has to go somewhere unless institutions all get redemption calls. That\u2019s what I\u2019ve heard is since stocks/bonds are down, people are overweight in RE and will redeem which will put open ended funds on the sidelines. Who knows, a learning experience in our careers to be sure.", "replies": [], "depth": 1}, {"id": "id2izcx", "text": "No change yet. Our market is supply constrained so I actually don't expect a huge change but likely a minor increase in caps.", "replies": [], "depth": 1}]