Drawing insights from over 2,000 leading real estate industry experts, the Urban Land Institute (ULI) and PwC US have released Emerging Trends in Real Estate 2023. The report confirmed that aspects of the industry are “normalizing” and returning to pre-pandemic ways, while other aspects have permanently transitioned to new normals adopted during the pandemic. The pandemic also reinforced the dominance of the “magnet” markets with nine of the top 10 markets to watch in the warmer Sun Belt region.
"As we enter 2023, the pandemic-driven factors that upended the global economy for more than two years are starting to fade. At the same time, structural changes like the widespread adoption of remote work will likely continue to inform investor behavior,” says Anita Kramer, senior vice president of ULI's Center for Real Estate Economics and Capital Markets.
“A series of long-term factors such as the rising cost of housing, increased climate risk, and declining socioeconomic mobility pose continued uncertainty for the private and public sectors alike. There are also opportunities—the increase in federal infrastructure spending provides the chance to create greener and more equitable communities that can adapt to these challenges."
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