Investor Presentaiton
Commercial Market Expected to Rebound After a Trough Year
Commercial Market Sales Volume (1)
FAF Direct Revenues
$ Millions
NCSD
ā Local
$1,000
$1,200
$800
$600
$400
$200
T
155
261
454
379
311
601
573
583
515
494
855
730
432
425
525
$1,000
767
753
$800
695
696
109
112
638
102
$600
108
$400
644
655
594
530
$200
1,026
1,042
142
160
124
884
883
84
668
402
$0
$-
2010
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
2017
2018
2019
2020
2021
2022
9M'22
9M'23
Commercial - Current Trend and Outlook
FAF's commercial revenue down 39% YTD, but expect solid financial performance for the year
Transaction pipeline has declined, including a slowdown in large transactions
Multifamily, industrial and development site were the strongest asset classes in 3Q, while office
continues to be the weakest
Remain optimistic transaction revenue will improve in 4Q consistent with the normal season pattern
AMERICA
22 SQUARE PEDESTAL
24% SQUARE PEDESTAL
35 SOLARE PEDESTAL
First American
(1) Source: Real Capital Analytics ULI Real Estate Economic Forecast October 2022 (includes purchase transactions over $2.5 million only)
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