As expectations mount for the Fed to cut rates later this year, owners and developers will continue to gain confidence in market conditions in 2024 and into 2025, said Martin in the report.
That should drive momentum in commercial activity in the second half of the year.
For now, however, commercial planning remains challenged by a stringent financing landscape.
Slower growth in warehouse planning hampered the commercial portion of the index in December, while consistent growth in education and healthcare planning buoyed the institutional side, according to the report.
