It looks like 2024 could be the year when investors lose their fear of the CRE markets even as they note the risks around them. Many will dip their toes in the water, rather than taking a plunge. But there is clear interest in buying and selling, a new CBRE survey of U.S. investor intentions reveals.

Investors remain worried about persistent high interest rates, tight credit and a mismatch between buyer and seller pricing, but the fear of a recession has lessened. The largest percentage of buyers are expected to be developers, private equity funds, real estate funds, and REITs. But they are likely to demand price discounts.

"Over 60% of respondents expect to purchase more real estate in 2024 than in 2023, compared with only16% in 2023 versus 2022," CBRE reported. "Despite lower property values, 40% of respondents expect to sell more assets in 2024 than in 2023, compared with only 14% in last year's survey." Potential sellers include private equity and real estate funds.