Skip to main content

Economic Experts Predict Uptick In Commercial Real Estate Activity In 2021

Navi Persaud
May 10, 2021
Photo of a man tending to his plant on the first floor of a commercial building.

As states and cities across the U.S. ease pandemic-induced restrictions, economists believe much of the pent-up demand and consumer savings during the pandemic will be pumped into the economy in 2021. As a result, a commercial economic boom may also be on the horizon, according to reports from speakers at the Commercial Economic Issues and Trends Forum, held as part of the 2021 REALTORS Legislative Meetings & Trade Expo.

"Economic expansion and the jobs recovery will lead to rises in occupancy across all commercial real estate property types," said Lawrence Yun, chief economist at the National Association of Realtors. "However, overall consumer price inflation is expected to increase 3% by the end of 2021 and likely will stay stubbornly high through next year, which will increase interest rates to 3.5%."

Yun also believes that the apartment and rental markets will regain footing in line with the recovery of the broader national economy and more specifically, urban areas across the country.

"The apartment sector underwent sudden swings in occupancy — down abruptly in the early months of the pandemic and then sharply rebounding in recent months — but we expect vacancy to drop and rents to rise," said Yun. "The industrial sector has been the star throughout the pandemic. There's been great demand for industrial space, and reconversion of some disused properties like older shopping malls can help meet this demand."

Click here to read more from the report.

Published
May 10, 2021
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021