Investor Sentiment Realigns to Pre-Tax Reform Levels;
Index Stability Points to Steady Outlook

Investor optimism was elevated following the passage of tax reform, but has since drifted back to levels in alignment with this time last year. Overall investor confidence is strong and the commercial real estate outlook remains positive.

KEY FINDINGS

■	Survey response indicates that investor sentiment remains above pre-recession peak, though down from the heights set earlier this cycle.
■	Approximately 60 percent of respondents believe the new tax law will have a favorable impact on commercial real estate. Additionally, investors expect increased investment capital to enter the market as a result of tax reform.
■	Downside risks such as inflation and rising interest rates lead investors’ concerns about the economy.
■	Investors’ outlook for major property types still point to growth, though caution remains elevated.

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