Real estate economists remain optimistic that the industry will continue to grow through 2019, but certain market conditions have them tempering their forecasts.
That is according to the Urban Land Institute's spring 2017 real estate consensus forecast. The forecast, based on a survey of 53 economists and analysts from 39 global CRE firms, indicated that while industry fundamentals remain sound, a few factors have led them to be more cautious when predicting future growth.
That growth, incidentally, is expected to lead to a decline in transaction volume from 2015's high-water mark of $547B. The ULI forecast predicts total transaction volume will fall 8% from last year, to $450B. Economists believe that number will hold steady next year before dropping further to $430B by 2019.