Unusual Economic Recession Shows Mixed CRE Outlook through 2023

Industrial space remains strong, multi-family housing is mixed, while pessimism continues for office and retail

The Winter 2021 Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey shows that the current pandemic-related economic recession is having a mixed effect on California commercial real estate sectors, as this particular downturn is not characterized by a slackening in housing markets or a stock market crash.

While office space markets are in a holding pattern and retail markets are on a downward trajectory, multi-family housing and industrial space instead remain in the growth portion of their business cycles.