A recent report issued by the Urban Land Institute (ULI) entitled Emerging Trends in Real Estate 2018 makes predictions about growth in real estate transactions around the country and the world.
Growth in Los Angeles Real Estate Markets
The ULI report released this fall at the Los Angeles ULI Fall Meeting, predicts an overall slower growth in U.S. real estate for the coming year, but with steady expansion in particular demographics in smaller cities due to the lower cost of properties in these markets. In addition, smaller cities have higher numbers of younger, less-expensive workers, increasing the appeal of these cities to real estate investors, says the reports authors.
While some sectors of construction are expected to slow, according to the report, certain sectors are predicted to see above-average expansion. These include:
- Single-family homes will continue to be needed by the emerging generations of young adults, representing over 150 million people, many of whom will buy their own home.
- Multi-unit family housing is another growth area as many millennials, and subsequent generations opt out of home ownership, especially at younger ages, and seek affordable rentals.
- Housing for seniors is another large growth sector in U.S. real estate in the next year and beyond.
Los Angeles is among the top ten cities mentioned in the report as expected to have especially active real estate markets in 2018. Other growth cities mentioned include Seattle, Austin, Fort Lauderdale, and Nashville.
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