ULI Real Estate Economic Forecast Is Optimistic – RISMedia |


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The Urban Land Institute (ULI) recently published its latest Real estate economic forecasts, which predicts that real estate is about to rebound, especially in the single-family housing sector.

The report includes responses from 42 interviewed economists and analysts from 39 real estate organizations.

“While the fall 2020 forecast was notable for reversing many pessimistic Spring 2020 forecasts, the current forecast goes even further, with several forecasts now ahead of long-term averages,” said William Maher , Director of Strategy, Senior Member of ULI. and research, RCLCO. “Among the 2021-2023 measures that are expected to exceed long-term averages are GDP and employment growth, the unemployment rate, real estate transaction volumes, warehouse and apartment occupancy and rental growth. , as well as single-family housing starts and price appreciation. ”

Single-family housing starts are expected to continue rising to 1.1 million in 2021 and 1.2 million in 2022, remaining stable through 2023, according to the report. Home price appreciation is expected to continue, but not at breakneck speed as we have seen for the 2020-2021 housing market. For 2021, ULI predicts home prices will rise 8.1%, but this will drop to 5% for 2022.

In the commercial space, transaction volume is expected to recover rapidly through 2023. 2021 could see transaction volume at $ 500 billion, with 2022 at $ 550 billion.

Overall, GDP is expected to grow 6.5% in 2021, up from -3.5% in 2020. It is expected to grow 3.9% in 2022 and 2.5% in 2023 – an increase for 2021 from compared to the October forecast, but a decrease for 2022.

To view the full report, Click here.

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