Market Trends Among Real Estate Asset Classes

2026 U.S. Real Estate Market Outlook

Where the opportunities - and risks - are emerging across key commercial real estate sectors Wilshire actively lends and invests in.

Commercial real estate continues to transition into a more selective, fundamentals-driven cycle. Some sectors are gaining strength, others are normalizing, and others are entering what may be multi-year windows of opportunity.

Wilshire Finance Partners’ 2026 Outlook breaks down what we’re seeing across the markets where we are most active: Senior Housing, Behavioral Health, Medical Office Buildings (MOBs), Warehouse/Industrial, Self-Storage, Multifamily, and Student Housing.

If you finance, acquire, operate, or invest in income-producing real estate, this analysis will help you understand how 2025 closed - and where 2026 may be headed.

Download the full report to access sector-specific forecasts, risk factors, and lending/investment implications.

What’s Inside the 2026 Report

Senior Housing

The sector strengthened materially in 2025, with occupancy rising toward 88% in primary markets and transaction activity rebounding. Limited new development, demographic tailwinds, and renewed institutional interest point toward continued stabilization in 2026.

Inside the full report:

• Forecasted occupancy trends
• Capital-market expectations
• Value-add and lease-up plays

Behavioral Health Real Estate

Demand continues to exceed supply across psychiatric, addiction-treatment, and dual-diagnosis facilities. Operators reported high occupancy and stabilized reimbursement in 2025, setting the stage for another strong year.

Inside the full report:

• 2026 rate and reimbursement outlook
• Regulatory shifts
• Expectations and investor trends

Medical Office Buildings (MOB)

MOBs delivered strong operational fundamentals in 2025 - high occupancy, solid absorption, and limited new supply. Investment activity remains selective, but rental growth appears poised to continue.

Inside the full report:

• Rent growth expectations
• Capital-market positioning
• Constrained supply creates opportunity

Warehouse & Industrial

Industrial cooled from the pandemic-era surge, but fundamentals remain solid. A normalization cycle is underway, with signs of gradual recovery in absorption, rent growth, and capital flows.

Inside the full report:

• 2026 demand drivers
• Vacancy and rent outlook
• Opportunities in industrial

Self-Storage

Demand held firm in 2025 and supply growth slowed, helping rents and occupancy stabilize. The sector remains one of the most recession-resilient categories of commercial real estate.

Inside the full report:

• Where rent growth is recovering
• Potential oversupply risk
• Acquisition trends

Multifamily

After a highly uneven couple of years, multifamily is showing signs of stabilization. Vacancy is tightening, and rent growth is expected to accelerate in 2026, though performance will vary heavily by market.

Inside the full report:

• Winners and laggards
• Impact of supply pipelines
• Investors are re-entering the market

Student Housing

High occupancy and steady demand continue to support the sector, but demographic trends and cost pressures will shape the next phase of performance.

Inside the full report:

• Pre-leasing signals for 2026
• Enrollment-driven demand
• Capital-market activity

Why These Insights Matter

Commercial real estate is no longer moving in one direction. Opportunity depends on:

• Operator strength
• Supply/demand imbalances
• Capital access
• Regional fundamentals
• Timing

For investors and borrowers, 2026 may present meaningful opportunities - particularly in transitional assets, value-add repositioning, and sectors defined by needs-based demand.

Wilshire’s position as an active, direct balance-sheet lender and real-estate investor provides real-time visibility into what’s happening on the ground.

Download the Full Report

Get the full 2026 U.S. Real Estate Market Outlook (PDF) for sector-level takeaways, forecasts, and lending/investing implications.