Delaware residents who may be engaging in real estate transactions now through 2017 may be interested to learn more about the projected trends through that interval. The results of the ULI Real Estate Consensus Forecast appear to show a relatively optimistic outlook for economic conditions in the United States in the long term.
The highest projected growth in the real estate sector is projected to come from the hotel industry. Survey results indicate that the sector’s average per available room will see a 6 percent gain between 2015 and 2017. With respect to commercial real estate prices themselves, increases are also expected. Though the average commercial real estate price has traditionally increased by 5.4 percent, a 6.8 percent increase is actually expected for 2015-2017.
Growth in these sectors notwithstanding, economists have expressed some concern for investment trust returns and retail occupancy rates, both of which are expected to fall below the averages they’ve held for a number of years. Real estate capital markets themselves are projected to maintain a $503 billion average during this period. Observers have commented upon the recent increase in the single-family housing sector, but it’s an open question whether this will hold true for future real estate transactions as well.
Given the inherent complexities of the residential and commercial real estate markets, individuals interested in initiating property transactions may be advised to discuss their situation with an attorney beforehand. A real estate attorney might be able to use knowledge of market conditions to facilitate the client’s transaction and aid in any negotiations. In addition, one may find it beneficial to have an attorney review any contracts related to the transaction before signing them. This could help ensure a smooth process for all parties involved.