Robust economic recovery and vaccinations have greatly restored investor confidence. In recent weeks, the number of deals tracked by CBRE Deal Flow has almost leveled with 2019’s record total (Figure 1). The pickup in listing activity was most evident in February, when vaccinations first ramped up in the United States, and in June, when more than half of the U.S. population had received at least one dose of the vaccine.
Investor inquiries or pre-purchase activity, as indicated by the number of signed confidentiality agreements, has rebounded to 2019 levels since late May 2021. Liquidity remains high, as investors plan on deploying significantly more capital than last year. The Sun Belt markets, particularly, saw record-level investor interest. The inquiries also align well with closed transaction volume,
