The latest data from JLL’s Global Bid Intensity Index from July 2025 indicates the first month-over-month improvement since late 2024, signaling a potential shift in transaction volumes heading into the fourth quarter 2025.
“The improvement in JLL’s Global Bid Intensity Index in July marked the first month-over-month increase this year, providing an indication that bidder dynamics are stabilizing,” said Ben Breslau, JLL’s chief research officer, in an interview with IREI. “At the beginning of 2025, bidding activity and competitiveness had eased, attributable in part to more volatile bond markets impacting underwriting and uncertainty around U.S. trade policy.”
However, latest measurements for transaction volumes suggest market-wide investment sales bidding activity is becoming more competitive in the third quarter. “Looking ahead, we expect the depth of capital targeting commercial real estate to continue to rise through the remainder of the yea
