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ULI Real Estate Economic Forecast – Spring 2025
A Survey of Leading Real Estate Economists/Analysts
The latest semi-annual ULI Real Estate Economic Forecast was completed on May 5, 2025, and is the result of surveying 36 leading real estate economists and analysts from 29 real estate organizations. They provide their three-year forecasts—to the end of 2025, 2026, and 2027—of 33 economic and real estate indicators. We report the median of their forecasts.
Respondents to the Spring 2025 ULI Real Estate Economic Forecast survey downgraded their projections relative to the Fall 2024 survey to reflect a softer near-term economic outlook with U.S. economic metrics below historical averages. Real estate market projections are also less optimistic in the near-term relative to Fall 2024 and many, although not all, are below their historic averages. Still, almost all metrics show steady improvement over the forecast period with a stronger mix of metrics moving above their long-term averages by 2027.
Details of all survey results, plus historic data, are in Spring 25 Real Estate Economic Forecast (PDF), to right.
Zusammenfassung des Berichts: The latest semi-annual ULI Real Estate Economic Forecast was completed on May 5, 2025, and is the result of surveying 36 leading real estate economists and analysts from 29 real estate organizations. They provide their three-year forecasts—to the end of 2025, 2026, and 2027—of 33 economic and real estate indicators. We report the median of their forecasts.
Respondents to the Spring 2025 ULI Real Estate Economic Forecast survey downgraded their projections relative to the Fall 2024 survey to reflect a softer near-term economic outlook with U.S. economic metrics below historical averages. Real estate market projections are also less optimistic in the near-term relative to Fall 2024 and many, although not all, are below their historic averages. Still, almost all metrics show steady improvement over the forecast period with a stronger mix of metrics moving above their long-term averages by 2027.
Details of all survey results, plus historic data, are in Spring 25 Real Estate Economic Forecast (PDF), to right.