ULI Real Estate Trends Report

Real estate leader Gino Canori handles market rate, affordable, mixed-income, retail, and office real estate projects taken on by Related California in San Francisco. The executive vice president of the company, Gino Canori has played a key role in the development of properties recognized by such honors as the Global Award for Excellence from the Urban Land Institute (ULI).

As part of its work setting standards for development and promoting land use and real estate, the ULI routinely releases reports regarding the future of the real estate market. This includes the “Emerging Trends in Real Estate 2022” report published by PwC and ULI in October 2021.

According to this report, the industry expresses optimism for the upcoming year. Performance in 2022 will surpass performance in 2021, based on reports from 84 percent of survey respondents. In 2020, only 79 percent of respondents shared this same level of optimism for 2021. In fact, this amount of optimism in the market has not been seen since 2016.

The survey also revealed that changes occurring in the United States have influenced the formation of many trends for 2022 and beyond. Industry experts expect that the retail revolution and aging millennial relocation to the suburbs will continue in 2022. The pandemic strengthened these trends, although they began before COVID-19.

Additional trends highlighted by the report include the housing affordability crisis. During the pandemic, housing affordability worsened and housing production fell short of new household formations. Without intervention from both private and public entities, the ULI expects this affordability crisis to worsen in 2022.

A decreased need for office space (due to the shift toward working from home), the maturation of property technology, and a brief real estate downturn are additional trends expected in 2022.

Originally published at http://ginocanori.wordpress.com on November 13, 2021.