France Media 2027 Forecast Survey for Brokers

Welcome to Our Annual Forecast Survey

Dear Commercial Real Estate Broker,

While the commercial real estate industry is enjoying strong performances in specialized sectors as 2026 draws to a close, elevated interest rates remain a threat to owners and developers amid a volatile debt-financing market. Among the positives, the retail real estate market is experiencing historically low vacancy rates due to strong tenant demand and constrained supply.

Affluent consumers are a major driver in this space even as inflation continues to strain household budgets. Meanwhile, the multifamily sector is stabilizing after a massive building boom led to oversupply.

In the industrial sector, tenant expansion has gained momentum, and absorption is now outpacing completions. The U.S. office market remains choppy. Prime office space is in demand among tenants and investors, but Class B and C office space is languishing.

Against that backdrop, we welcome your insights as part of our 16th annual survey.

(Note: Please remember to click on "done" to properly submit the survey.)

Sincerely,

Matt Valley
Editorial Director, Real Estate Regionals
France Media, Inc.

Question Title

1. In which region of the country do you personally conduct most of your business? (Answer required to allow France Media to place responses in the appropriate regional publication.) (Required.)

Southeast (Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia and Washington, D.C.)

Northeast (Connecticut, Delaware, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont)

Midwest (Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, Ohio, South Dakota and Wisconsin)

Western U.S. (Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, Utah, Washington and Wyoming)

Texas and Oklahoma

Question Title

2. Which of the following best describes your company? (Please mark all that apply)

Global Brokerage Company

National Brokerage Company

Regional Brokerage Company

Local Brokerage Firm

Full-Service Real Estate Firm

Tenant Representation Firm

Landlord Representation Firm

Other (please specify)

Question Title

3. Check the box that best describes your job title:

President, Owner, Partner, Chairman of the Board, CEO

Chief Financial Officer, Chief Investment Officer

Real Estate Manager, Other Manager, including General Manager

Broker, Leasing Agent, Real Estate Agent

Other (please specify)

Question Title

4. Which property sector(s) do you specialize in? (Please mark all that apply)

Hotel

Industrial

Multifamily

Office

Retail

Mixed-use

Other (please specify)

Question Title

5. Do you expect your firm’s total transaction volume by dollar amount (leasing and investment sales combined) in 2027 to be higher, lower or the same as in 2026?

Higher

Lower

Approximately the same

Question Title

6. If you answered "higher" to the previous question, by how much?

Less than 5%

5% to 10%

11% to 15%

16% to 20%

More than 20%

Question Title

7. If you answered "lower" to the previous question, by how much?

Less than 5%

5% to 10%

11% to 15%

16% to 20%

More than 20%

Question Title

8. Generally speaking, which property sector(s) do you think will experience a high velocity of sales activity in 2027? (multiple answers allowed)

Hotel

Industrial

Multifamily

Office

Retail

Mixed-use

Other (please specify)

Question Title

9. Generally speaking, which property sector(s) do you think will experience a low velocity of sales activity in 2027? (multiple answers allowed)

Hotel

Industrial

Multifamily

Office

Retail

Mixed-use

Other (please specify)

Question Title

10. In your view, which property sector(s) will experience the greatest increase in valuations over the next 12 months?

Hotel

Industrial

Multifamily

Office

Retail

Mixed-use

Other (please specify)

Question Title

11. Do you expect interest rates to increase, decrease or remain relatively unchanged during the next 12 months?

Increase

Decrease

Remain relatively unchanged

Uncertain

Question Title

12. What is your best guess as to where the U.S. 10-year Treasury yield will stand at the end of 2027?

6.5% or higher

6.0% to 6.5%

5.75% to 6.0%

5.5% to 5.75%

5.25% to 5.5%

5.0% to 5.25%

4.75% to 5%

4.5% to 4.75%

4.25% to 4.5%

4.0% to 4.25%

3.75% to 4.0%

3.5% to 3.75%

3.5% or lower

Uncertain

Question Title

13. To what degree will inflation, which has moderated but remains at an elevated level, have an impact on the commercial real estate industry over the next 12 to 18 months?

Significant positive impact

Some positive impact

Significant negative impact

Some negative impact

No impact

Uncertain

Question Title

14. Do the benefits of tariffs (protecting industries and jobs and increasing government revenue) outweigh the costs (higher consumer prices, potential retaliation from other countries, general uncertainty) from a commercial real estate perspective?

Benefits significantly outweigh costs

Benefits somewhat outweigh costs

Benefits and costs are about equal

Costs somewhat outweigh benefits

Costs significantly outweigh benefits

Uncertain

Question Title

15. How do you expect office utilization in your market to trend over the next 12–18 months?

Increase significantly

Increase moderately

Remain roughly the same

Decrease moderately

Decrease significantly

Too early to tell

Question Title

16. Among the following property types, how do you think the volume of distressed properties in 2027 will compare to 2026?

	Increase significantly	Increase somewhat	Remain the same	Decrease somewhat	Decrease significantly	Uncertain
Industrial	Industrial Increase significantly	Industrial Increase somewhat	Industrial Remain the same	Industrial Decrease somewhat	Industrial Decrease significantly	Industrial Uncertain
Multifamily	Multifamily Increase significantly	Multifamily Increase somewhat	Multifamily Remain the same	Multifamily Decrease somewhat	Multifamily Decrease significantly	Multifamily Uncertain
Office	Office Increase significantly	Office Increase somewhat	Office Remain the same	Office Decrease somewhat	Office Decrease significantly	Office Uncertain
Retail	Retail Increase significantly	Retail Increase somewhat	Retail Remain the same	Retail Decrease somewhat	Retail Decrease significantly	Retail Uncertain

Question Title

17. Which three factors do you think will pose the greatest risk to the commercial real estate industry in 2027? (Select up to three)

Interest rates

Inflation

GDP/job growth

Construction and material costs

Energy prices

U.S national debt

Geopolitical risk

U.S. political climate

Tariffs and trade policy

AI and technology disruption

Labor availability/talent recruitment

Other (please specify)

Question Title

18. What impact will the results of the midterm elections have, if any, on the commercial real estate sector in 2027? (Please type in your comments here and include your name, job title, company name, phone number and email address so that we may follow up with you for additional information and/or attribute quotes to you if we include your comment in the article. You can also leave an anonymous comment.)

Question Title

19. Data centers are the fastest-growing niche sector in commercial real estate. Do the pros (high yields and unprecedented demand) outweigh the cons (power and grid scarcity and massive capital expenditure requirements) in your view? Please explain. (Please type in your comments here and include your name, job title, company name, phone number and email address so that we may follow up with you for additional information and/or attribute quotes to you if we include your comment in the article. You can also leave an anonymous comment.)

Question Title

20. What do you see as the greatest opportunity and/or challenge for the commercial real estate industry in 2027? (Please type in your comments here and include your name, job title, company name, phone number and email address so that we may follow up with you for additional information and/or attribute quotes to you if we include your comment in the article. You can also leave an anonymous comment.)

Question Title

21. Can we reach out to you as a potential source for our follow-up analysis article of the survey results? (Required.)

Yes

Question Title

* 1. In which region of the country do you personally conduct most of your business? (Answer required to allow France Media to place responses in the appropriate regional publication.) (Required.)

Question Title

* 2. Which of the following best describes your company? (Please mark all that apply)

Question Title

* 3. Check the box that best describes your job title:

Question Title

* 4. Which property sector(s) do you specialize in? (Please mark all that apply)

Question Title

* 5. Do you expect your firm’s total transaction volume by dollar amount (leasing and investment sales combined) in 2027 to be higher, lower or the same as in 2026?

Question Title

* 6. If you answered "higher" to the previous question, by how much?

Question Title

* 7. If you answered "lower" to the previous question, by how much?

Question Title

* 8. Generally speaking, which property sector(s) do you think will experience a high velocity of sales activity in 2027? (multiple answers allowed)

Question Title

* 9. Generally speaking, which property sector(s) do you think will experience a low velocity of sales activity in 2027? (multiple answers allowed)

Question Title

* 10. In your view, which property sector(s) will experience the greatest increase in valuations over the next 12 months?

Question Title

* 11. Do you expect interest rates to increase, decrease or remain relatively unchanged during the next 12 months?

Question Title

* 12. What is your best guess as to where the U.S. 10-year Treasury yield will stand at the end of 2027?

Question Title

* 13. To what degree will inflation, which has moderated but remains at an elevated level, have an impact on the commercial real estate industry over the next 12 to 18 months?

Question Title

* 14. Do the benefits of tariffs (protecting industries and jobs and increasing government revenue) outweigh the costs (higher consumer prices, potential retaliation from other countries, general uncertainty) from a commercial real estate perspective?

Question Title

* 15. How do you expect office utilization in your market to trend over the next 12–18 months?

Question Title

* 16. Among the following property types, how do you think the volume of distressed properties in 2027 will compare to 2026?

Question Title

* 17. Which three factors do you think will pose the greatest risk to the commercial real estate industry in 2027? (Select up to three)

Question Title

Question Title

Question Title

Question Title

* 21. Can we reach out to you as a potential source for our follow-up analysis article of the survey results? (Required.)

Question Title

* 22. If yes, please provide your name, job title, company and email address in the below text box.

1. In which region of the country do you personally conduct most of your business? (Answer required to allow France Media to place responses in the appropriate regional publication.) (Required.)

2. Which of the following best describes your company? (Please mark all that apply)

3. Check the box that best describes your job title:

4. Which property sector(s) do you specialize in? (Please mark all that apply)

5. Do you expect your firm’s total transaction volume by dollar amount (leasing and investment sales combined) in 2027 to be higher, lower or the same as in 2026?

6. If you answered "higher" to the previous question, by how much?

7. If you answered "lower" to the previous question, by how much?

8. Generally speaking, which property sector(s) do you think will experience a high velocity of sales activity in 2027? (multiple answers allowed)

9. Generally speaking, which property sector(s) do you think will experience a low velocity of sales activity in 2027? (multiple answers allowed)

10. In your view, which property sector(s) will experience the greatest increase in valuations over the next 12 months?

11. Do you expect interest rates to increase, decrease or remain relatively unchanged during the next 12 months?

12. What is your best guess as to where the U.S. 10-year Treasury yield will stand at the end of 2027?

13. To what degree will inflation, which has moderated but remains at an elevated level, have an impact on the commercial real estate industry over the next 12 to 18 months?

14. Do the benefits of tariffs (protecting industries and jobs and increasing government revenue) outweigh the costs (higher consumer prices, potential retaliation from other countries, general uncertainty) from a commercial real estate perspective?

15. How do you expect office utilization in your market to trend over the next 12–18 months?

16. Among the following property types, how do you think the volume of distressed properties in 2027 will compare to 2026?

17. Which three factors do you think will pose the greatest risk to the commercial real estate industry in 2027? (Select up to three)

21. Can we reach out to you as a potential source for our follow-up analysis article of the survey results? (Required.)

22. If yes, please provide your name, job title, company and email address in the below text box.