New York commercial brokers — faced with a complex array of market challenges — are gloomier about their prospects than they have been at any point in the last six years.
The Real Estate Board of New York’s Real Estate Broker Confidence Index report for the first quarter of the year showed the current confidence index for commercial brokers was at -74.7 in Q1, down from -45.6 in the last quarter of 2022. That number represents the lowest confidence level since REBNY started running the survey in Q3 2017.
A score of 0 represents neutral sentiment. At this point in 2022, commercial broker confidence…