Investor confidence is currently strained. Waiting for a better buy in the future seems to be a common strategy throughout many markets. From the seller’s standpoint, holding on to the real estate may be a better strategy than wasting time fishing the market for buyers willing to pay last year’s prices and cap rates. It’s not happening ! Good deals are still closing although, underwriting has tightened and the tolerance for risk has reduced. Increasing equity will always reduce risk.