2019 Outlook: The Only Certainty Is Uncertainty

Rather than a few dominating trends, the Urban Land Institute's "Emerging Trends for Real Estate" report anticipates that 2019 will be unpredictable, with a complex web of trends revolving around technology, demographics, and affordability.

The 2019 report, released by the ULI and PricewaterhouseCoopers researchers, analyzed data from more than 750 real estate professionals, and anticipates an overall economic slowdown for the year, with markets and trends "in flux that could provide new opportunities," writes Patrick Sisson for Curbed. One key finding in the report was the renewed emphasis on sustainability in building and construction, “Real estate has been proactive on sustainability issues for many years,” reads the report. “As a matter of self-interest as well as social responsibility, the industry is moving ahead to advance its sustainability performance regardless of the direction of national policy.”

While vague, predicting a year of significant transformation only reflects the climate of uncertainty and possibility that’s settled over the market. This year alone, the homebuying market was expected to be the most competitive in history before buyers pumped the brakes later in the year. After years of steady growth and low interest rates, many observers anticipate a correction, especially in the face new technology, generational and demographic changes, the rise of new markets, and the continued winding-down of traditional retail. One survey respondent described the feeling of “coming off a peak,” and others have said the “low-hanging fruit has been picked.”

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