Source: Real Trends —
The Emerging Trends in Real Estate report, produced by PWC and The Urban Land Institute (ULI), has been the dominant voice in reporting the future of the industry for more than 40 years.
Given the market upheavals in the years since the COVID-19 pandemic, looking forward and analyzing trends is more important than ever. We’ve combed the report to bring you the highlights and can’t-miss information that will impact your business in 2023.
The pace is slowing
In 2021 and a portion of this past year, real estate was moving at a record-setting speed. Homes were selling in hours, above asking and for cash. In 2023, however, expect the rate of the market to continue the slow-down seen in late 2022.
The days a home is on the market will continue to rise, there may be more negotiation over price — though average home prices are expected to stay high, at 30% more expensive than in 2019 and earlier— and rising interest rates will continue to make some buyers wary.
Remote work affects many facets of the industry
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