Commercial broker sentiment inched higher from the record lows reached in the first quarter as the commercial Current Confidence Index (CCI) rose from -74.7 to -65.7. The six-month outlook also ticked higher. The commercial Expectations Index (EXI) rose from -56.9 to -45.3. Both indicators were essentially even with the levels seen during the height of the pandemic in 2020.
The residential EXI fell for the second quarter in a row, declining from 11.7 to 5.6. While it stayed in negative territory, the residential CCI increased from -5.6 to -1.1.