SIOUX FALLS, S.D. (KELO) — Business leaders from all over Sioux Falls gathered at the Washington Pavilion Thursday for Bender Commercial’s Market Outlook.

This annual event looks back at commercial real estate and economic data trends from the past year and makes some predictions on what the year ahead will look like based on some of the current market conditions.

“This coming year there’s going to be a pause on some of these transactions, it’s not a doom and gloom prediction, it’s just an interest rate, simple math. For example, interest rates were roughly 3 percent in January of last year, now on a commercial transaction it will be about 6 and a quarter,” Bender Commerical Principal Nick Gustafson said.

Rising interest rates and inflations were just some of the central points of today’s presentation. We’ll have a breakdown of more of the key takeaways from this year’s Bender Market outlook in Friday’s Your Money Matters.