The Top 5 Real Estate Markets For 2024 [According To The Experts]

The Top 5 Real Estate Markets For 2024 // The annual ULI Fall Meeting was held in Los Angeles last week, and as part of that annual meeting, ULI teams up with PwC every year to put out their annual Emerging Trends in Real Estate report.

This report walks through some of the most pressing issues within commercial real estate, including interest rates, ESG, housing affordability, remote work, and outlooks on each of the major commercial real estate product types, but one of the most insightful parts of this report that I like to zoom in on is the "Markets To Watch" section.

This section of the report polls leaders from some of the largest capital allocators in this industry, including firms like JP Morgan, Goldman Sachs, Blackstone, Brookfield, and PGIM Real Estate, and ranks 80 major metros based on the consensus view of each market's overall real estate prospects.

So in this video, we'll break down the top 5 real estate markets for 2024 in the report, the factors that are very likely driving each of these picks, and why these were actually a little bit surprising to me given what's going on right now in many of these markets.

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🕒 Timestamps 🕒
0:00 Introduction
1:23 The Rankings
8:40 Why These Rankings Surprised Me
10:36 Key Takeaways
11:40 How To Learn More About CRE Investment Analysis

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*Nothing in this video should be construed as tax, legal, accounting, valuation, or financial advice or recommendation. All information in this video is intended solely for educational purposes, and you are advised to consult with your own personal professional advisors regarding your personal investment decisions.

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Research and articles referenced in this video:
https://www.pwc.com/us/en/industries/financial-services/asset-wealth-management/real-estate/emerging-trends-in-real-estate.html
https://www.austinchamber.com/blog/07-25-2023-job-growth-unemployment
https://www.austintexas.gov/news/austin-now-10th-largest-city-us
https://atlantaregional.org/news/press-releases/metro-atlanta-adds-66730-people-in-past-year-amid-strong-jobs-growth/#:~:text=Metro%20Atlanta%20Adds%2066%2C730%20People%20in%20Past%20Year%20Amid%20Strong%20Jobs%20Growth,-11%2DCounty%20population&text=The%2011%2Dcounty%20Atlanta%20region,by%20the%20Atlanta%20Regional%20Commission.
https://www.gpb.org/news/2023/08/10/metro-atlanta-population-hits-516-million
https://www.bls.gov/regions/southeast/news-release/areaemployment_atlanta.htm
https://www.census.gov/newsroom/press-releases/2023/subcounty-metro-micro-estimates.html
https://www.axios.com/2023/08/07/dallas-fort-worth-america-boomtown
https://buildremote.co/companies/companies-moving-to-texas/
https://www.azcentral.com/story/money/business/economy/2023/10/07/recession-ahead-greater-phoenix-chamber-economic-outlook-takeaways/71089974007/
https://www.azcentral.com/story/money/business/economy/2023/10/07/recession-ahead-greater-phoenix-chamber-economic-outlook-takeaways/71089974007/
https://www.azcentral.com/story/news/local/phoenix/2023/05/18/new-population-numbers-where-do-arizona-metro-areas-rank-five-million/70232705007/
https://www.census.gov/newsroom/press-releases/2023/subcounty-metro-micro-estimates.html
https://www.nashvillechamber.com/blog/2023/nashville-msa-emerges-as-one-of-americas-fastest-growing-job-markets#:~:text=According%20to%20data%20from%20the,Austin%2C%20Dallas%2C%20and%20Raleigh.
https://www.axios.com/local/nashville/2023/05/17/nashville-milken-institute-best-performing-cities
https://www.nashvillechamber.com/blog/2023/nashville-employment-continues-strong-growth
https://www.matthews.com/market-report-multifamily-nashville/
https://www.cbre.com/insights/figures/q3-2023-us-multifamily-figures
https://www.cbre.com/insights/figures/q3-2023-us-office-figures
https://www.cbre.com/insights/figures/q3-2023-us-industrial-figures