Upbeat real estate execs are more bullish on 2018

“Survey participants’ expectations were higher for the U.S. economy as well as the real estate industry than in the previous survey, which occurred in October 2017,” ULI researchers say.Still, the consensus is for slowly moderating real estate returns and transaction totals during the next few years.”The outlook for individual property sector fundamentals generally continues to reflect the characteristics of the current real estate cycle,” ULI survey participant Andrew Warren, director of real estate research at PricewaterhouseCoopers, said in a statement. “Fundamentals either are steadily improving or appear to have stabilized at sustainable levels. “Despite differences in performances between property sectors, there is no indication that we are about to see any imbalance in 2018 that will send any of the sectors into a significant downturn.”Some things in the report stand out.After a nationwide peak for this cycle in commercial property transaction volume of $546 billion in 2015, real estate activity declined to $468 billion in 2017. The ULI forecast calls for annual transaction volumes to total $450 billion in ’18 and drop to $408 billion by 2020.”Despite these projected declines, volumes remain substantially above the 17-year annual average of $303 billion,” the ULI report says.Commercial property prices across the board are… Read full this story

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