They also foresee rental prices continuing to increase for all property types, ranging from 0.8 percent to 5 percent.
The economists’ predictions were made on assumptions that the economy would continue to strengthen, including a larger drop in unemployment.
“While geopolitical and global economic events could change the forecast going forward, what we see in this survey is confidence that the U.S. real estate economy has weathered the brunt of the recent financial storm and is poised for significant improvement over the next three years,” says Patrick L. Phillips, ULI chief executive officer. “These results hold much promise for the real estate industry.”
Source: “Real Estate Will Rock in 2014,” RISMedia (March 31, 2012)
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