Commercial real estate investors are heading into 2026 with more confidence—and a clear bias toward buying. In a recent survey, 74% of respondents said they plan to acquire more assets this year than in 2025, while another 21% expect to buy about the same amount. That leaves only a small minority planning to pull back.
Selling activity could rise, too: just under half of investors anticipate listing more properties than last year. More inventory paired with strong demand may increase competition for deals and help pricing stabilize or firm.
Still, investors aren’t ignoring the risks. The biggest concerns cited were an uncertain economic outlook and a softening labor market. Elevated or volatile long-term interest rates also remain a key worry, along with weakening property fundamentals in some sectors and higher operating costs.
That caution is showing up in strategy. More investors are targeting core-plus opportunities, fewer are pursuing high-risk opportunistic plays, and interest in value-add deals is roughly steady. Many also indicated they’re willing to accept short-term negative leverage if rent growth and improving fundamentals support a longer-term thesis.
On the “tailwinds” side, investors pointed to a slowing development pipeline as a positive for market balance, and many expect debt costs to ease versus recent peaks. Other factors helping sentiment include more attractive entry pricing, a better rental outlook, and improving alignment between buyers and sellers.
By property type, multifamily remains the top pick, with industrial still in second place. Retail has held steady and gained ground compared with 2024, while office—though still a smaller preference—has inched up as some investors see early signs of stabilization. Hospitality, meanwhile, has dropped sharply as a favored target.
Geographically, gateway markets remain in the mix, but Sun Belt preference is expected to continue. Dallas leads the list, followed by Atlanta and San Francisco, with New York City and Seattle still ranking highly. Markets like Charlotte and Nashville also stand out for investors drawn to job growth, in-migration, and more balanced supply-and-demand dynamics.
Source: CPE