The annual Emerging Trends in Real Estate Report is out for 2013, courtesy of the Urban Land Institute (no, it is NO relation to my employer, the UNC Charlotte Urban Institute). Click here to download a PDF copy.
A few quickie highlights: Among “Markets to Watch,” Charlotte ranks No. 17, Raleigh No. 11. The top five, in order: San Francisco, New York, San Jose, Austin, Houston. You’ll find the remarks about Raleigh on Page 40, and Charlotte on Page 42.
The report praises Charlotte’s “high quality of life, low cost of business and world-class international airport” and calls it “one of the stronger secondary markets to watch.” However, it also notes that “some interviewees still have concerns: ‘Charlotte is subject to what banks do,’ and ‘We see Charlotte as a risky metro in spite of a relatively strong economy, due to its dependence on two large banks.’
Overall, the report says, expect the continued “low-gear real estate recovery,” and “modest gains.” Don’t be looking for quick wins, it cautions developers and investors.
Happy weekend reading.