Will the Fed Achieve an Economic Soft-Landing?
Inflation Dropped Significantly in June
- CPI inflation fell to 3.0% year-over-year in June, down from its peak of 9.1% in June last year
- The Producer Price Index, a leading inflation indicator dropped to 0.1%, a clear sign of falling inflation
Economic Drivers Easing, But Crucially Still Positive
- Many economic metrics have slowed, but remain positive, suggesting a soft-landing is still viable
- 1.7 million jobs have been added so far in 2023, sustaining economic growth
Most CRE Property Types Remain Well Positioned
- Preliminary 2Q fundamentals suggest most CRE property types have sustained demand
- Uncertainty-driven transaction slowdown beginning to thaw; more owners requesting opinions of value
*CPI and PPI through June; Core PCE through May
Sources: Marcus & Millichap Research Services, BEA, BLS
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