Optimistic Outlook for CRE Industry
The latest Urban Land Institute/EY Real Estate Consensus Forecast (a semiannual survey of economists and analysts at the nation’s leading real estate organizations) projects steady growth for the U.S. economy, sustained strength from real estate capital markets, and continued improvement in the commercial real estate sector in the years ahead. This promising news was featured in a recent REJblog from the editors of www.rejournals.com.
Forecast findings include:
- commercial property transaction volume will soar to $430 billion by 2016 (exceeding the volume of 2006),
- retail rental rates are expected to rise in 2014, and
- vacancy rates for office, retail, and industrial properties are expected to fall this year, too.
Read more from Urban Land Institute about this optimistic forecast at: http://uli.org/research/centers-initiatives/center-for-capital-markets/barometers-forecast-and-data/uli-real-estate-consensus-forecast/.