The DLA Piper 2024 Mid-Year Real Estate Trends Report

With one of the largest real estate practices in the US, DLA Piper handles hundreds of transactions each year involving virtually every asset class. This gives us a window into what is happening in the US commercial real estate market on a real-time basis. Working with our knowledge management team, we capture this information in a way that has proven to be helpful to investors and others throughout the real estate community. For this latest report, we surveyed over 850 acquisition and disposition agreements and over 400 property management agreements that we have handled. We report on those findings and more below.

Midway through 2024, the commercial real estate market finds itself in an interesting place. As suggested by our recent State of the Market Survey, with an expectation of falling interest rates, industry experts are becoming cautiously optimistic. Some of the largest real estate investors have publicly called the bottom (or at least the “near-bottom”). Consistent with the findings in our State of the Market Survey, in the Real Estate Roundtable’s Q2 survey, 66 percent of respondents said that they expect general market conditions to show improvement within the next year. In a recent survey by the Altus Group, 91 percent of firms with more than $5 billion in assets under management signaled an intent to transact (buy, sell, or both) in the near term, up 83 percent from Q1 of this year. We are starting to see these upward trends in the transactions we handled in the first six months of this year.

Here is a closer look at the trends we identified for 2024.