2026 Midyear Outlook Webinar
From Stabilization to Acceleration
Thursday, May 21, 2026
11 AM PT | 2 PM ET
Join First American’s Deputy Chief Economist Odeta Kushi and Senior CRE Economist Xander Snyder to learn about opportunities this year.
2025 marked a turning point in the CRE recovery. Prices largely stabilized across most asset classes, and transaction volume began to rebound. While price declines may not be completely behind us, the bulk of interest rate-driven price discovery likely is, and any remaining declines early in this cycle will be driven more by the resolution of distress than by the aftereffects of the interest rate shock.
If 2025 was a year of stabilization, 2026 has been one of acceleration, where the new cycle has taken hold and momentum has returned to the industry.
This cycle, though, will look different from the last two, both of which benefited from a powerful tailwind of falling interest rates and cap rates that lifted values and made strong returns easier to generate.
Today, even after the post-pandemic reset, both remain low by long-run standards, making valuation-driven gains a less reliable playbook. As a result, returns in this cycle will depend more on income and execution - cost control, operational efficiency, and the fundamentals of running real estate well - than on long-term valuation tailwinds.
Disclaimer: We are unable to offer this webinar to clients located in CA & IA. No CLE is available.
Deputy Chief Economist
Odeta Kushi
Senior CRE Economist
Xander Snyder
*Required Field. No CLE is available.
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