NREI/Marcus & Millichap Investor Sentiment Keeps Rising in 2013

Investor confidence notched steady gains in the first half of 2013. The latest results from an exclusive investor survey conducted jointly by NREI and Marcus & Millichap shows a continued positive outlook for property performance and a strong appetite to increase investment over the next 12 months.

The NREI/Marcus & Millichap Investor Sentiment Index reached a new record high climbing from a mark of 174 in the first quarter of 2013 to 180 in the second quarter—the highest level since the index launched in 2004. The current reading also is nearly double the mark of 91 that was achieved at the low point of the Great Recession in 2009.

“That is a tremendous sign of confidence and increased enthusiasm for commercial real estate. It validates the theme of improving fundamentals combined with very competitive yields, as well as the opportunity to lock-in still low interest rates ahead of the true recovery cycle for most property types,” says Hessam Nadji, Chief Strategy Officer and Director of Specialty Groups at Marcus & Millichap Real Estate Investment Services in Calabasas, Calif.

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