The cost of financing and a looming mountain of loan maturities are among the 10 current and emerging issues The Counselors of Real Estate identified as having the most significant impact on all sectors of real estate.

High financing costs continue to weigh on the commercial real estate market despite cooling inflation and the Fed's first of several expected rate cuts announced in September. Investors, who anticipated as many as five rate cuts this year, have been left disappointed, which has weighed on expectations for commercial property, said James Costello III, chief economist at MSCI Real Assets.

"There's no question that higher costs are making it more difficult to assess market value and pencil out deals," said Costello. "On a positive note, the sharp drop in transaction volume that occurred last year shows some signs of stabilizing."