2023 U.S. Investor Intentions Survey: Less investment activity expected

CBRE’s 2023 U.S. Investor Intentions Survey finds that rising interest rates, a looming recession and less credit availability will weigh on investment activity in 2023. Nearly 60 percent of respondents expect to purchase less real estate in 2023, while only 15 percent expect to purchase more. Almost half of respondents expect to decrease purchasing by more than 10 percent.

Investors are hesitant to sell assets as market pricing falls. Sixty percent say they will either sell less or not sell at all, while only 27 percent expect to sell the same amount as last year.

The most sought-after sectors remain multifamily, particularly apartment complexes, and industrial, led by modern logistics facilities in major markets. Grocery-anchored centers are the most popular subsector for retail investors, while office investors largely prefer class A assets in prime locations.

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