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2024 U.S. Real Estate Market Outlook

2024 U.S. Real Estate Market Outlook

Compelling opportunities will emerge for commercial real estate investors in 2024, as high interest rates and an economic slowdown—perhaps even a mild recession—lead to bargain pricing for certain assets. Commercial real estate investment activity likely will begin to pick up in the second half of 2024.

Key Takeaways:

  • Capital Markets: Notable amounts of equity capital remained on the sidelines at the end of 2023, particularly for value-add and opportunistic strategies, and we expect that some of this capital will be deployed in 2024.
  • Office: The normalization of hybrid working arrangements will continue to limit office demand.
  • Retail: Real estate fundamentals should remain strong due to the scarcity of new construction deliveries over the past decade.
  • Industrial: The industrial market is expected to remain healthy, with net absorption on par with 2023 levels.
  • Multifamily: The biggest wave of new apartment supply in decades will temper rent growth and improve affordability for renters.
  • Hotels: Despite a decelerating macroeconomic environment, continued gains in inbound international travel and upside in domestic business and group travel will drive RevPAR growth.
  • Data Centers: Demand for new data center development will attract more institutional investment, as investors reallocate capital from the office sector to real estate alternatives.



Additional Info

Source : CBRE

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