Markets in Focus

Commercial Real Estate

Q2 2023

Markets in Focus  |  Real estate  | real estate Q2 2023

U.S. commercial real estate investment activity is slowing as the nation’s economy slips toward a possible recession. Deal volume will decline 15% this year. In a CBRE survey, 60% of investors indicated they would reduce purchases in 2023, most by more than 10%, while only 15% of respondents stated they would increase their activity.¹

The outlook for the major commercial real estate categories contains few surprises and the data reflects the prevalent economic situations that have been thoroughly reported in this country. The slow return to offices and higher permanent levels of work from home and hybrid work arrangements are depressing the office market. High mortgage rates and stubbornly high single-family housing prices (propped up by cash buyers) are driving a strong multifamily commercial real estate market. And the recent extremely robust industrial market (especially for warehouse space) is softening as the economy slows and consumer spending declines after higher levels of pandemic spending.


This edition covers:

  • Insurance Market Overview
  • Major Claims in the Sector
  • Guidance