DENVER — Integra Realty Resources (IRR), a commercial real estate valuation services firm based in Denver, has debuted Viewpoint 2026, the 33rd edition of the firm’s commercial real estate trends report. The publication concludes that the U.S. commercial real estate industry is currently experiencing a mixed bag of demand generators and property-level performance.
“As we enter 2026, we see that the economic environment is becoming more stable, but growth is slower and visibility remains limited,” says Nick Luettke, economist at Moody’s Analytics. “Inflation has eased from recent peaks and interest rates have started to trend lower, however, borrowing costs remain elevated relative to prior cycles. With labor markets softening and policy uncertainty still at play, economic conditions are supportive in some areas but restrictive in others, contributing to uneven performance across the U.S. commercial real estate market.”
IRR partnered with Luettke for the macro-economic trends within the report and sought contributions from nearly 600 valuation advisors in the United States and Caribbean. The report delivers sector-specific insights along with three specialty property reports on healthcare and seniors housing, quick-service restaurants and self-storage.
Some key findings and forecasts from the main report include: the sustained poor fundamentals within the highly fragmented office sector, which saw vacancy rise to nearly record levels in 2025; occupancy rebound in multifamily as construction starts wind down; record low levels of vacancy within the retail sector; and the “normalizing” of the industrial and hospitality sectors.
The aim of Viewpoint 2026 is to help commercial real estate professionals, including lenders and investors, assess opportunities and risks in the marketplace in the new year. For more information about Viewpoint 2026, please visit www.irr.com/Viewpoint, or to access additional IRR research and market insights, please visit www.IRR.com.
IRR is one of the largest independent commercial real estate valuation services firms in North America, covering more than 60 markets with nearly 600 employees throughout the United States and the Caribbean. The firm specializes in real estate appraisals, feasibility studies, market studies, expert testimony and related property consulting services. In 2025 alone, IRR closed more than 36,000 assignments across 60 markets totaling $151 billion in asset value.
— Staff Reports