The industry's own research.
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A total of 161 senior executives responded to the October survey, with borrowing conditions continuing to improve while most respondents reported an unchanged market.
The Market Tightness Index came in at 52, above the breakeven level of 50 for the first time since July 2022, indicating tighter conditions such as lower vacancies and higher rent growth.
All four indices came in below the breakeven level of 50: Market Tightness at 40, Sales Volume at 41, Equity Financing at 48 and Debt Financing at 32, signaling looser conditions and reduced deal flow to start the year.