📝CRE360 Take:
JLL’s Bid Intensity Index shows investor competition finally firming after months of weakness. July 2025 marked the first month of increased bidding since last year. Institutional capital is re-engaging as borrowing costs stabilize, narrowing bid-ask spreads in multifamily and retail. Even office saw deeper bidder pools, with lenders more willing to quote loans.

CRE360 cautions that the improvement is modest, from a very low base. Transaction volumes remain depressed compared to pre-downturn norms, and weaker offices still attract few bids. Liquidity remains selective, with capital favoring high-quality assets. The debt market’s fragility, barely mentioned, could still stall momentum.

Signal: watch/chase selectively. Multifamily and necessity retail show genuine demand signals worth chasing. Secondary assets remain weak. Investors should watch carefully — early movers in strong sectors could benefit, but broad recovery isn’t confirmed.

Publisher Credit:
Full report: JLL — Global Bid Intensity Index, August 2025