- US CRE transaction dollar volume increased 11.3% quarter over quarter in Q2 2026, while property count rose 6.7%.
- Median pricing reached $131 PSF across properties above 5,000 SF, up 8.6% from Q2 2025.
- Capital is concentrating in larger transactions and assets with durable operating fundamentals, keeping the recovery selective.
US CRE transactions strengthened in Q2 2026, extending the investment-market recovery that began in 2025. Altus Group’s analysis of Reonomy data showed higher quarterly transaction counts, dollar volume, and transacted SF. Pricing also moved higher across most major property types.
Get Smarter about what matters in CRE
Stay ahead of trends in commercial real estate with CRE Daily – the free newsletter delivering everything you need to start your day in just 5-minutes
Capital Markets Keep Reopening
The quarter showed stronger activity even though property counts remained 1.2% below Q2 2025. Compared with Q1, properties transacted increased 6.7%, dollar volume rose 11.3%, and transacted SF climbed 10.3%.
Altus Group said calmer credit markets, improving financing availability, and clearer growth expectations helped support activity. The recovery remains selective. Investors continue to prioritize asset quality, durable income, and properties where operating performance can support returns.
The Details
The trailing four-quarter picture was stronger than the single-quarter comparison. Transaction volume increased 16.3% year over year, while property counts rose 6.0%. Commercial General and Mixed Use led quarterly dollar-volume growth at 25.7%. Industrial followed at 22.2%, and Hospitality rose 18.6%. On a year-over-year basis, Commercial General and Mixed Use volume jumped 52.4%, Industrial increased 26.0%, and Office gained 18.9%.
US CRE Transactions Shift Toward Larger Deals
Median transaction pricing for properties above 5,000 SF reached $131 PSF in Q2, up 2.3% quarterly and 8.6% annually. Industrial led major sectors at $113 PSF, a 13.2% annual increase. Multifamily reached $151 PSF, up 7.4%, while Retail rose 7.6% to $142 PSF. Office pricing was nearly flat from Q1 but remained 4.9% above Q2 2025. Hospitality was the only major sector with an annual decline, falling 2.0%. The broader pattern aligns with a CRE transaction recovery increasingly shaped by larger deals.
Why It Matters
Altus Group’s new transaction metrics show capital shifting toward scale. The report now tracks the share of value coming from deals above $10M, highlighting stronger participation by larger investors.
Commercial General and Mixed Use recorded a particularly large increase in that share. Asset age is also diverging by sector. The median multifamily property sold was about 62 years old, roughly two years older than a year earlier. Investors are returning, but they are not treating all assets or sectors equally.
What’s Next
By mid-August 2026, Altus Group described the market as healthier than a year earlier, with better transaction activity and moderately improving pricing. Financing remains expensive, and capital is still concentrating in stronger markets and assets. The next test is whether that confidence broadens beyond higher-quality properties and larger transactions through the rest of 2026.
