If January were a telltale for the rest of the year, I would predict we are on track for a record year (which would be total volume over $1.2bn). However, January historically is a good, but not a perfect, indicator of how the market will perform. Here are the approximate total volume numbers for January and the entire year over the last few years:
2011, $17mm/$532mm
2012, $21mm/$830mm
2013, $28mm/$760mm
2014, $63mm/$1bn
2015, $74mm/$850mm
2016, $95mm/???
Knowing our pipeline of deals and seeing a slight correlation between January and full year numbers, my answer is, the market is strong.