Real Estate Development Trends in 2017
It can be difficult to predict real estate development trends. Recent changes in the political landscape are also making it harder to make predictions. But a few professionals have highlighted real estate development trends in 2017 to keep an eye out for.
According to many industry professionals, developers, builders and investors should be cautiously optimistic about the growth of the real estate industry in the coming year.
Fortune named these 5 Real Estate Trends in 2017:
- Rising Interest Rates – Expect more increases in interest rates from the Federal Reserve in 2017.
- Mortgage Credit Increases – Expect a loosening of lending standards in 2017 and an increase in mortgage credit availability.
- Increased Market of New Homes – New homes are expected to continue to be built at an increased rate. 2016 saw a 5% increase in groundbreakings compared to 2015, and this trend is expected to continue.
- Rise of Medium-Sized Cities – The trend of young professionals seeking cities with moderate career opportunities and affordable housing (e.g., Raleigh, NC) is expected to continue in 2017.
- Influx of Foreign Buyers – Major cities are expected to continue to have an influx of foreign buyers of U.S. real estate.
According to the Urban Land Institute’s (ULI) annual Emerging Trends in Real Estate Report, the real estate market is leveling out after the volatility it has endured. This steady calm is expected to continue. Among this, other 2017 real estate development trends include creating buildings that can be adjusted for multiple tenants and changing neighborhoods and a focus on community with development (or redevelopment) to create areas that balance living, working, and playing.
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