In 2024, the real estate market faced continued valuation resets, low transaction volumes, and liquidity constraints, leading to negative performance across most geographies and property types. However, signs of stabilization are emerging, potentially suggesting an inflection point. Key to deploying capital in 2025 is understanding the rise of alternative sectors such as senior housing, data centers, and logistics, as well as the demographic trends and changing supply and valuation dynamics affecting those sectors. Read the 2025 Real Estate Strategy Outlook to learn more.