Global Real Estate Daily Report: February 23, 2026
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Author: Ben Williams
For: berndpulch.org
Market Pulse: The “Steady Recovery” Inflection Point
As of February 23, 2026, the global real estate market has settled into a phase of cautious but steady recovery, driven by a sustained period of favorable financing. The headline number driving sentiment remains the US 30-year fixed mortgage rate, which held its multi-year low average of 6.01% this week. With daily rates floating between 5.86% and 6.14% , the affordability window that opened in late 2025 remains wide, fueling a gradual but consistent return of buyers and refinancers.
While nominal global house price growth sits at 2.4% (Knight Frank), the story is increasingly one of regional divergence and sector-specific resilience. The commercial sector is seeing a return of liquidity, with CBRE projecting a 16% jump in US investment volume to ~$562B. JLLโs February outlook confirms this momentum, pointing to a “sweet spot” of lower rates, contained inflation, and fiscal support driving activity across offices, industrial, and retail.
- The Macro View: Whatโs Moving the Market?
ยท The Rate Effect (US): The Freddie Mac average of 6.01% (Feb. 19) is the lowest since September 2022. This stability is the primary catalyst for the current rebound, directly improving debt service ratios and unlocking pent-up demand.
ยท Global Growth: The global economy is providing a tailwind, with S&P Global projecting steady real GDP growth of ~2.9%. Inflation remains largely contained, allowing for the policy support noted by JLL.
ยท AI Disruption: The adaptation to AI and hybrid work models continues to create a “two-speed” market in the office sector, pressuring secondary assets while prime, well-located properties hold their value.
- Regional Spotlight: Divergent Paths to Growth
The global recovery is not uniform. Here is how major regions are performing:
Region Sentiment Key Drivers Major Challenges
North America Stable / Cautiously Optimistic Lowest rates since ’22 (6.01%), strong multifamily & industrial demand, data center boom. AI-driven office disruption, cautious builder sentiment.
Europe Gaining Momentum Rising prime rents, return of liquidity, supportive policy easing (UK/EU). High construction costs, performance divergence between core and periphery.
Asia-Pacific Mixed / Selective Urban migration (India), supply tightness (Japan), stabilizing policies (China). Oversupply (China), severe housing shortages (Australia).
Middle East Bullish Mega-project pipelines (KSA), ownership reforms (UAE), diversification spending. Rising construction costs (~4%), geopolitical risk.
- Deal Flow: Where Capital is Moving (February 2026)
Despite broader economic caution, transaction activity is concentrating in resilient segments. Recent notable deals include:
ยท ๐ข Mixed-Use / Commercial: Voloridge acquired a portion of Harbourside Place in Jupiter, FL, for $57.6M, signaling confidence in experiential, wellness-focused commercial assets.
ยท ๐ก Residential Luxury: The high end remains robust, evidenced by a lakefront estate in Palm Beach, FL, trading for $57M.
ยท ๐๏ธ Multifamily: Distressed opportunities are emerging. The Princeton Grove apartments in Miami-Dade traded at a ~40% discount, going for $39.5M (216 units) to AEW/Grand Peak.
ยท ๐ญ Industrial Expansion: Major corporate commitments continue, such as Siemens Energy’s $421M expansion in North Carolina.
- Sector Insights: Navigating the New Landscape
ยท Office (Volatile): The sector is undergoing a fundamental repricing. Success lies in innovation, repositioning, and focusing on prime, amenity-rich locations.
ยท Multifamily (Robust): The star performer. Demand remains strong, supported by high homeownership costs and demographic trends, leading to sustained rent growth.
ยท Retail (Mixed): A tale of two cities. Experiential retail and necessity-based formats (grocery, pharmacy) are thriving, while traditional mall space continues to struggle.
ยท Industrial (Strong): E-commerce and the push for supply-chain resilience continue to drive demand for logistics and warehouse space, making it a top performer.
- Outlook & Conclusion
The market has officially entered a sustainable recovery phase. The combination of stable, multi-year low mortgage rates and contained inflation has created a supportive environment for both residential and commercial real estate.
For the remainder of 2026, we expect:
- Modest Price Growth: US prices likely to stay in the 0-2% range, preventing a return to boom-era volatility.
- Rising Transaction Volumes: As confidence solidifies, sales activity will continue to climb from 2025 lows.
- Sector Outperformance: Capital will continue to flow into resilient alternative sectors like data centers, life sciences, and logistics.
The inflection point is here. The key for investors will be navigating the regional and sector-specific divergences to capture growth.
References: Freddie Mac PMMS (Feb 19, 2026), Zillow/Bankrate/WSJ (Feb 23, 2026), J.P. Morgan, Cotality, JLL Global Perspective (Feb 2026), The Real Deal, S&P Global Economic Outlook.
Bernd Pulch (M.A.) is a forensic expert, founder of Aristotle AI, entrepreneur, political commentator, satirist, and investigative journalist covering lawfare, media control, investment, real estate, and geopolitics. His work examines how legal systems are weaponized, how capital flows shape policy, how artificial intelligence concentrates power, and what democracy loses when courts and markets become battlefields. Active in the German and international media landscape, his analyses appear regularly on this platform.
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