“It’s slow out there. This is a natural consequence of our economic times, and it draws a sharp eye to the role finance plays in our industry. I attended an event in October full of industry folks from around the country. The prevailing sentiment was that we will see deal volumes increased in 2024, but maybe not for the reasons we’d like. Institutional money is facing long redemption queues. Portfolio investors can get a return in savings instruments that don’t have the operational risk of real estate. All of that said, organic growth in our region still creates demand. Economics is a matter of seeking equilibrium, but seldom achieving it. It’s the tides that keep us on our toes.”

“Our Movers Moving Index hit 162 in October. Half of that was three firms, volume builders.”