Real estate investors are adapting to the unpredictable environment that has marked the beginning of President Donald Trump’s second term, according to a new report released by Agora, a real estate investment management platform.

Agora’s 2025 Real Estate Market Sentiment Report found that 44% of investment firms surveyed report changing their investment plans to adapt to market volatility. Of the firms that changed investment strategies, 49% reported moving into new asset classes and 48% are targeting new regions. About 44% of firms paused or reduced acquisitions, while 26% pursued smaller deals.

The investment groups also made a move toward safety, concentrating on asset types that are historically stable and income-generating. More than half of those surveyed plan to prioritize multifamily investments, while 33% plan to target mixed-use properties. Office, hospitality and retail assets were less popular.

While most investors remain active in the market, they were taking a “measured approach,” according to Agora. About 48% of investor groups say they are being “opportunistic” by focusing on distressed or undervalued assets. Only 25% of those surveyed describe their investment attitude as “aggressive,” and a smaller group say they are “defensive” or “on hold.”

Respondents say it is harder than in the past to raise capital, with 76% of investors saying they are “somewhat or very concerned” about market volatility, and 58% saying the market has “worsened.” This concern about the state of the market may be influencing fundraising and deal activity, according to the report.

Worries about an uncertain market have led companies to say investors want more detailed and forward-looking updates. About 31% of respondents say that investors ask for performance metrics, while others prioritize forecasts and risk assessments.

In response, 38% of respondents are sending weekly updates to investors, and 28% are reporting monthly. Only 15% update investors only when necessary.