Mortgage rates have finally dipped below 7% and with the Federal Reserve on pause, mortgage rates may continue to drift lower, paving the way for commercial real estate sales to open back up. John Worth, Nareit Economist and Head of Investor Outreach, joins Yahoo Finance to discuss the easing of rates and why REITs should be considered by investors to put on the top of their watch list for 2024.
Worth explains the upside for REITs here: “I think that even with the Fed easing, that’s going to be easing to a higher rate environment. So I do think in 2024, we’ll see some of that commercial real estate sales market open up and we’ll see some of those prices start to reflect the reality of higher interest rates. I think there’s a good reason for public REITs to be potentially winners in that because, again, they’re coming in with low leverage, they have access to capital through both debt and equity and so they can potentially be the buyers in those cases.”
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