With the first quarter coming to an end we have gathered a short list of what we believe are the Real Estate Industry Trends for 2013. Let us know if you agree, disagree or see other issues which we missed. Our list is not in any particular order and not intended to be comprehensive, just provocative.
- Urban development will be lead by projects utilizing tax credit financing as a project component;
- Healthcare and medical office space will be a desired investment;
- Existing home sales will tick up (5-7%);
- Retail leasing will remain strong as regional power centers continue to improve their tenant mix and tenant’s lock in rental rates ahead of the market;
- Adaptive reuse of former retail strip centers and empty big box retail space will continue to change the complextion of the suburbs;
- Infill in the urban cores will continue;
- Foreign buyers will continue to see U.S. real estate as a safe haven given the relative stability of the U.S. real estate market; and
- The regions of the country where shale gas and oil are being found will continue to explode with opportunitise in drilling, road construction, housing, services and more (south eastern Ohio; West Virginia, Pennsylvania, the Dakotas, New York).
As we all know all real estate is local. Market behavior in one market will not guaranty market behavior in other markets.