Source: RISMEDIA —
While the future of the real estate industry is uncertain, several experts offered their predictions during the Urban Land Institute’s (ULI) virtual 2021 Spring Meeting, held on May 10-12.
“The demand for housing will hold up as economic recovery continues to pick up speed,” said Vicki Mullins, EVP and chief financial officer at Newland. “Builders are focusing on starting and closing homes, as they sold more homes last year than they anticipated. New-home communities are selling out faster than they can be replaced. We’re seeing accelerating home-price appreciation, with new-home prices up 16% YoY. Housing affordability remains a problem. We think some of the buyers will continue to rent.”