CRE Sentiment Index

The CRE Sentiment Index is designed to predict general conditions in the commercial real estate industry over the next 12 months by asking industry professionals to predict conditions for their projects and markets.

The Commercial Real Estate Development Association CRE Sentiment Index for September 2026 is 48, a decrease from the March 2026 score, indicating that respondents expect conditions for commercial real estate to worsen slightly over the next 12 months.

Key Findings

• Respondents are less optimistic about capital market conditions. 
• Rising interest rates are likely behind this shift. 
• Survey respondents expect both construction material and labor costs to rise more rapidly than they anticipated in March.
• The outlook for property-level fundamentals is strong. 
• Developers and building owners expect an increase in the dollar volume of transactions and projects and that employment will grow slightly within their own firms. 
• Respondents expect general industry conditions to improve slightly over the next 12 months.