ULI Real Estate Economic Forecast
ULI has released their Spring Real Estate Forecast which concludes that the impact of COVID-19 on the commercial real estate market will be less severe than the Great Recession. The 39 economists/analysts at 35 leading real estate organizations suggest that conditions will improve after 2021.
Multifamily Highlights (National)
Cap Rates: Up 40 basis points in 2020 & 2021 before dropping 20 basis points in 2022
Vacancies: Up 100 basis points in 2020, flat in 2021, and dropping by 40 basis points in 2022
Rents: Down 2.0% in 2020, up 2.0% in 2021, and up 3.0% in 2022
