LightBox CRE Activity Index Declines for the Second Consecutive Month but Still Outpaces 2023

IRVINE, Calif., Dec. 9, 2024 /PRNewswire/ -- LightBox, a leading provider of commercial real estate (CRE) information and technology, released its Monthly CRE Activity Index for November that recorded a reading of 80.5, reflecting a double-digit month-over-month decline. Despite this, the Index continued to outperform the same period in 2023, signaling resilience in the CRE market.

This aggregate measure of activity in commercial property listings, environmental due diligence, and appraisals collectively tracks shifts in the velocity of key functions that support CRE transactions and therefore provides a useful leading indicator of deal activity. With the anticipated month-over-month seasonal decline in November, the Index came in 15.4 points lower than the October reading. The Index began its decline in October with a slight 2.3 point-drop to 95.9. For the past three years, the October to November Index decline has averaged 14.7 points. This year`s slightly steeper decline was likely a function of market uncertainty reflected by recent volatility in the U.S. 10-year Treasury yield as investors assessed the outcome of the November election...