Explore Dallas’ housing market… In July–August 2020, the Deloitte US Center for Financial Services fielded a global survey that elicited responses from 800 senior financial services executives across industry sectors. Resources to foster and harness the grassroots strength of the REALTOR® Party. On an average, 58% of REIT respondents have increased their intent to partner, compared to 45% of respondents who are developers. Kathy currently serves as Advisory University partner on our University Relations team for the University of Wisconsin–Madison and serves on Deloitte US’ Board Council for the current fiscal year. Over 18 years, we've grown to serve as the primary source of commercial real estate data in over 50 markets across North America. View in article . Through our research, roundtables, and other forms of engagement, we seek to be a trusted source for relevant, timely, and reliable insights. The CRE macro environment is being impacted similarly. National, state & local leadership, staff directories, leadership opportunities, and more. Real estate experts are predicting a consistent growth in the market for 2018. She serves as lead client service partner for both public and private clients in the Chicago and Milwaukee marketplaces, with a focus in the real estate and hospitality sectors. View in article, Real Capital Analytics data. View in article, Francisco J. Acoba et al., “Navigate disruptions and address the uncertainties: Reshape the future of corporate real estate (CRE) using smart technologies,” Deloitte, 2020. This study was conducted primarily using data from CoStar and … Whether you’re a new agent or an experienced broker you have access to a wide array of resources designed to help you succeed in today's market. Companies seem to recognize the need to digitize the finance function. View in article, Atlanta Business Journal, “Healthiest employers awards extra large employers (5,000 or more employees): Nos. Explore the Moody's Analytics CRE Solutions and our impact on commercial real estate professionals in insurance, lending, banking, and more. To do this, leaders should use technology and data at every step of decision-making and execution. Our survey data reveals CRE companies aim to reduce costs by 20% on average over the next year or more, because most owners/operators have had to absorb the cost of making spaces ready for reoccupancy. However, when asked how frequently they exhibit certain behaviors linked to virtual productivity, they did so less than 50% of the time.35. View in article, Jim Berry et al., “CFOs evaluate real estate for strategic alignment,” Wall Street Journal – CFO Insights and Analysis from Deloitte, September 28, 2020. > Real Estate Market Trends ... Zimbabwe Market Research & Statistics; Real Estate Industry 2020 - Zimbabwe Market Research & Statistics. Jim is a frequent speaker and instructor on industry and other technical subject matters at the national level with Deloitte. As tenants and end users reengage with physical spaces, CRE companies should reconsider how they assess and value properties and their locations. ET 2021 Financial services industry outlooks, Visit the Within reach? National Director of Research. View in article, Deloitte, The Deloitte Global Millennial Survey 2020, 2020. Jim Berry and John D’Angelo, Preparing for the future of commercial real estate: Redefining the talent experience, Deloitte Insights, September 15, 2020. To enhance financial strength, companies could focus on bolstering their asset portfolios and digitizing the finance function. For instance, while implementing facial recognition technology at its properties, Vornado provided an opt-out option and invested in secured data storage.16. Over 30 Years of Experience Leading the Ann Arbor Commercial Real Estate Market. IBISWorld's statistic shows that as of 2020 the market size of the Commercial Real Estate industry is $951.1bn a decline of -12.08% … Sales during the first four months of the year were consistent with volumes in recent years, mainly due to strong results in the first quarter. These investments may include productivity and performance measurement tools, training leaders to manage virtual teams, and redesigning spaces to facilitate collaboration and make employees feel safe. The unprecedented impact of COVID-19 on the global economy and the commercial real estate (CRE) industry continues to challenge leaders. Consequently, even after an addition of US$30B of newly troubled CRE loans in 2Q20, distressed asset sales were only 1.4% of the deal volume, a level comparable to the past two years.30 There is a growing concern among banks around lending, however, with delinquencies on the rise. Affordability, economic, and buyer & seller profile data for areas in which you live and work. U.S. Real Estate Trends uses RealtyTrac to find real estate market statistics in your local area. Summary: National home sales edged back 0.7% on a month-over-month (m-o-m) basis in October. Research suggests that a diverse and inclusive workforce leads to higher productivity, creativity, profitability, employee morale, and a stronger brand.36 However, only 46% of respondents report being focused on increasing the level of diversity in hiring, development, and leadership. Learn how companies can overcome formidable challenges to gain momentum in the coming year. Cloud technology could be the backbone for many new capabilities as it offers scalability, data storage, and ubiquitous access. See something interesting? Prices on U.S. commercial real estate deals showed signs of improvement in the third quarter, though the number of transactions tumbled as Covid-19 continued to … We unravel the various market cycles and offer the most relevant analyses to respond to your needs. The housing market is red hot thanks to record-low mortgage rates and consumers looking to flee cities for the suburbs. Only 48% of the surveyed executives agree or strongly agree that their organization has a clear vision and action plan for maintaining operational and financial resilience. Overall, 41% of survey respondents say they may rationalize their CRE footprint to support financial and operational stability over the next six to 12 months. Overall, the pandemic appears to have accelerated many organizations’ need to revamp job roles, recruiting strategy, talent systems and processes, and culture to attract and retain a multigenerational workforce. in the upcoming years. Projects; Special Olympics; … Commercial real estate data encompasses so much more than just transaction or market data. Further, the factors cited above could put pressure on liquidity and lead to more distressed asset sales and price declines. Based on this assessment and considering the business vision, CRE leaders should develop a digital strategy that focuses on technologies and initiatives that deliver strategic value. The commercial mortgage-backed securities delinquency rate remained above 9% in August, after reaching an all-time high of 10.3% in June, largely driven by hotels at 23% and retail at 15%.31 In July, 78% of US domestic banks tightened lending standards for CRE loans.32. 2. Jim leads the US Real Estate (RE) sector for Deloitte. 4. With conditions constantly changing, we provide the timely market insights you need to stay a step ahead and make the most of your commercial property and real estate investments. Women in the financial services industry collection, The Deloitte Global Millennial Survey 2020, The July 2020 senior loan officer opinion survey on bank lending practices, COVID-19 accelerates technology adoption in seniors housing, How to leverage technology to adapt to COVID-19, Cloud spending hits record amid economic fallout from Covid-19, Property managers have had to quickly digitize, How REITs are responding to cybersecurity threats, Vornado will install facial recognition tech in all its buildings, The path ahead: Impact on office property owners and operators, CFOs evaluate real estate for strategic alignment, Urban exodus? Commercial real estate research team. These reports provide insights into the fundamentals and direction of the nation's largest metropolitan housing markets. European leader in the commercial real estate market. ET First Published: Dec. 12, 2020 at 2:31 p.m. With more organizations and end users making data-backed decisions, sharing relevant property-related data could help companies build trust and increase tenant/end-user engagement. The Commercial Real Estate Trends & Outlook Report discusses trends in the small commercial market (transactions that are typically less than $2.5 million) based on a survey of members of the National Association of Realtors® engaged in commercial real estate about their transactions in the first quarter of 2020 and the latest publicly available data. Companies that adopt a hybrid work approach will likely use offices to develop more emotional connections, facilitate collaboration, and create human experiences. Office, retail and industrial investment sales through October 2020 totaled $2.55 billion consisting of 233 properties. More than one-half of respondents (56%) believe that the pandemic exposed shortcomings in their organizations’ digital capabilities. REIT respondents seem to acknowledge this and are being more open to collaborating with proptechs. Average rent collections have been above 90% for industrial, office, apartments, and health care REITs during the April–July 2020 period.25 Rent collections for US shopping center REITs dropped to 50% in April, but continue to recover, rising to 80% in August.26 The healthy rent collection is being offset by higher tenant improvement and leasing commission costs (TI & LC), which are impacting operating margins in some sectors. Additionally, there are growing cybersecurity and data privacy concerns among those surveyed, due to the increase in virtualization, data capture, and data-sharing using cloud and digital tools. Organizations should use sensing tools, alternative data sets, and analytics to evaluate and predict the impact of changing investor and tenant/end-user preferences on CRE usage and demand. Here’s a look at the different commercial real estate data … This market trends report is based on analysis of city-level data… Ira Kalish, Weekly global economic update: October 2020, Deloitte Insights, September 27, 2020. Conversely, companies that are traditionalists may have to incur higher costs to make spaces safe to support an in-person workforce. In some instances, companies may have to be creative and adapt spaces for complementary or new purposes. Companies can significantly increase tenant engagement by optimizing real-time updates about facilities and developing a sense of community using mobile apps. The authors, Surabhi Kejriwal and Saurabh Mahajan, wish to thank John D'Angelo, Matt Kimmel, Jim Brock, Karen Cronin, Darin Buelow, Lynn T. Kawaminami, Jeff Smith, Robin Offutt, and the many others who provided their insights and perspectives and Jay Bhuta, Rima Pai, Satish Nelanuthula, and Srinivas Oguri for their contributions in the development of this article. What is the market size of the Commercial Real Estate industry in the US? The vacancy report presents data that covers over 12 million square feet of office and flex space in Ann Arbor, surveyed by Swisher Commercial. Businesses and industry … With tenants and end users likely to leverage different CRE properties to make emotional in-person connections, spaces are likely to be valued based on the experiential value rather than just traditional metrics such as cost/square foot or sales/square foot. To recover and prepare to thrive over the next 12 months, the CRE industry should focus on managing costs to improve operational efficiency and repositioning the value of existing CRE spaces. Forty percent had more than US$100 million but less than US$5 billion in AUM, 29% had between US$5 billion and US$10 billion, 31% had more than US$10 billion. Companies should adopt a “security-by-design” approach in which customized controls are built into new solutions. MacKenzie tracks buildings that meet the following requirements and identifies these buildings as true reflectors of commercial real estate activity within the Baltimore Metropolitan Statistical Market (MSA). View in article, Kelsi Maree Borland, “Property managers have had to quickly digitize,” GlobeSt, June 10, 2020. The impact of COVID-19 on the global economy and the CRE industry has made 2020 the most memorable year in recent history. Overall, respondents seem committed to digitizing operations: Most plan to make the highest technology investment in property operations and management among different CRE functions. Customer Support. Real Estate Market Analysis. She works collaboratively with clients to provide attest services and assist with technical accounting matters, including working through transactions such as mergers, acquisitions, divestitures, and IPOs. Activities included free virtual cooking classes, games, educational programs, fitness classes, and access to meditation apps.34, But as weeks have turned into months of remote work or a limited return to in-person work, many CRE leaders find it challenging to maintain employee productivity, culture, engagement and cohesiveness, and appropriate communication levels. To position their companies to thrive long term, they need to break inertia to move into rapid recovery. Additionally, companies should focus on creating a more enabling culture for virtual work and prioritizing diversity and inclusion efforts. The pandemic has made cost management and redefining the value proposition of CRE properties top priorities for the operations function. Stay current on industry issues with daily news from NAR. See Terms of Use for more information. Some key challenges: CRE company leaders have their work cut out. Planning and implementing a talent transformation to adapt to the future of work, and prioritizing diversity and inclusion will provide a competitive edge. But they will likely leverage learnings gleaned from remote working to incorporate more progressive and visionary approaches. Along with the evolving financial landscape, the pandemic has resulted in tectonic shifts in the way people live, work, and play, which has put unique pressures on certain property sectors. This report is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. This may involve redefining their cultures to be more accepting about having more work done remotely versus in-person. Given that the CRE industry generally lags the rest of the economy, respondents were cautious about industry financials for the next 12 months. Including Legal, Agent & Broker, and Property Rights Issues. Including home buying and selling, commercial, international, NAR member information, and technology. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Social login not available on Microsoft Edge browser at this time. In both large and small commercial markets, commercial prices continued to ratchet up as of 2019 Q2, with price gains from one year ago, based on price indices reported by the National Council of Real Estate Investment … Yet, troubled loans are rising; banks, fearing higher delinquencies, are tightening lending standards.8 In several sectors, rent collections have remained healthy, but largely because of higher tenant incentives and leasing concessions. Insights. For many CRE industry leaders, the pandemic has been an eye-opener. 12.10 | Swisher Commercial leased 630 SF office space in Ann Arbor Swisher Commercial is pleased to announce the lease of 630 SF of office space at 527 E. Liberty, Suite 205... Find A Member CPIX is the Multi-State Regional Commercial … Learn how to properly use the logo and terms. Meet the continuing education (CE) requirement in state(s) where you hold a license. The pandemic is also creating longer-term, evolving shifts in tenant and end-user preferences, which will likely influence leasing demand. Companies should strengthen their asset portfolios, especially as the financing environment may tighten, if the current economic environment continues for a long time. View in article, Deloitte Insights, “Deloitte State of the Consumer Tracker,” August 22, 2020. Our recent article offers in-depth insights related to talent transformation, which will likely be a multiyear effort for many organizations. Explore the 2021 U.S. Real Estate Market Outlook for insights on accelerating trends and recovery forecasts for the economy and various real estate sectors. As a member, you are the voice for NAR – it is your association and it exists to help you succeed. Simply select text and choose how to share it: 2021 commercial real estate outlook Companies can analyze tenant engagement levels and behavior to understand preferences and provide a more customized experience. IBISWorld's statistic shows that as of 2020 the market size of the Commercial Real Estate industry is $951.1bn a decline of -12.08% from 2019. Sample Commercial Real Estate Market Statistics The global commercial real estate market report/study will contain data, analysis, commentary and infographics for the list of regions covered in … Last 3 Years (9) Last 2 Years (7) Last Year (4) All regions. For instance, owners/operators can combine and analyze the occupancy, movement, and temperature sensor data and assist tenants in creating COVID-19–safe seating and space utilization decisions. The Ann Arbor office market contains an inventory of 9,279,670 square feet of office space, in 162 buildings that are equal to or larger than 25,000 square feet. This website uses cookies to improve your user experience while you navigate through the website. (See sidebar, “Methodology,” for more details about the survey.) They would also need to frequently collaborate, communicate, and coordinate with tenants to be in lockstep. Ottawa, ON, November 16, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales continued running at historically strong levels in October 2020. Governance structure should focus on effectively managing transformation programs and encouraging innovation. Jim has extensive experience in initial public offerings, private placements, and SEC filings, as well as advising clients in all aspects of mergers, acquisitions, divestitures, and due diligence activities. More than 50% of respondents acknowledge that their ability to succeed in the postpandemic world will be hampered in the near term by employee concerns about returning to work. Even before the pandemic, many retail properties were losing their value and purpose due to online sales; this trend has only accelerated since COVID-19 hit. The real estate industry is constantly changing, both in terms of the consumer market and the professional landscape. Fulfill your COE training requirement with free courses for new and existing members. Globally, 40% of respondents expect a decline in rental growth and 59% anticipate an increase in vacancy rates over the next 12 months. View in article, CBRE, “U.S. View in article, Lauren Clarke, “8 amazing benefits of cultural diversity in the workplace”, 6Q Blog, accessed September 20, 2020. Get up to … 2-12,” September 24, 2020. In a Deloitte study of 11,000 workers, 80% of employees said they were able to meet the expectations of their role in a virtual setting. As the commercial real estate market evolves, our research does, too. GTA investment transactions – Q1 2020 statistics. This latest report shows the very early impact of the coronavirus pandemic on commercial real estate. View in article. Commercial Real Estate Research and Statistics. Below you'll find statistics on homes for sale in Austin, TX, and the surrounding communities, updated every 15 minutes from the ACTRIS MLS. Because of this, CRE companies will need to reassess the value proposition of properties. MarketFlash: Office lease concessions rising in tenant-favorable market,” August 13, 2020. Living in Dallas, Jim has been heavily engaged in several real estate and community organizations including The Real Estate Council and United Way of Metropolitan Dallas. Finally, they could leverage a combination of cloud, RPA, and AI to automate and digitize the leasing process end-to-end.21. We will also offer recommendations for how owners can adapt to the potentially slower pace of growth. Commercial REALTORS® Document Library; NABOR Event Center Calendar; Professional Development; Professional Standards; Support; Links. View in article, Deloitte financial services client insights survey, Spring 2020. To do this, we surveyed 200 CRE senior executives—owners/operators, developers, brokers, and investors—in 10 countries during the summer of 2020. Global CRE deal volume declined 36% year over year (YoY) to US$306B in 2Q20 due to economic stagnation and an uncertain pricing environment.5 Prices are showing early signs of stress across the more negatively impacted property types. America's largest trade association, representing 1.4 million members, including NAR's institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries. Use the data to improve your business through knowledge of the latest trends and statistics. Use the data in these reports to improve your business through knowledge of the latest trends and statistics. Discover Deloitte and learn more about our people and culture. Research shows that distractions, isolation, blurred work/life balance, and adjusting to new ways of working are negatively impacting productivity in virtual work environments. Interestingly, only 37% of the APAC respondents expect a decline in rents, but 74% anticipate a significant increase in vacancy levels. It is important to understand that the information in the market summary reports reflect Missouri statewide averages. Member Support is available Mon-Fri, 8am-5pm Central. Workplace design is expected to play an increasingly critical role in creating an enabling culture. Columbus Real Estate Market Trends & Statistics 2020 In this section, you’ll learn about the top factors that make Columbus one of the strongest real estate markets of 2020, including: affordability, rental income, cash flow, and equity growth potential. More than 50% of respondents acknowledged that their ability to succeed in the postpandemic world would be hampered by employee concerns about returning to work. Missouri REALTORS ® Market Statistics provides a summary of important statewide real estate statistical data for both members and the public. Find a REALTOR® Why Use a REALTOR®? The NYC real estate market is currently a buyer's market which means there are roughly more active homes for sale than there are buyers. Further, 47% of European respondents and 44% of APAC respondents, compared to 32% of North American respondents, have started redefining business processes, job roles, and skill requirements to embed the use of technology and tools. In a matter of weeks, most of the CRE workforce moved to remote work, property tours turned virtual, most tenant communication converted to online channels, and more technology was required to manage day-to-day operations.9 Some CRE companies also increased their use of cloud-based collaboration and productivity tools to lower in-house technology costs and increase flexibility.10. Jim Chaconas has an enormous footprint in Washtenaw County commercial real estate. Market Statistics; Community. Email a customized link that shows your highlighted text. International Homebuyers Report. Next, companies could use different analytical tools to generate insights and facilitate decision-making. Make smart decisions when investing or finding a location with commercial real estate market research featuring global, national and local trends. But now, some landlords are converting empty retail spaces into mixed-use developments, apartments, or warehouses. Phoenix Commercial Real Estate Market Reports. September 9, 2020. Less than 50% of respondents consider digital tenant experience a core competency of their organization. Each profile has different implications on organizational culture and office space demand and design. Get the Deloitte Insights app, With economic recovery heavily dependent on a vaccine, the length of this downturn remains uncertain. As a starting point, companies should evaluate not only employee preferences, but also the job role and the degree to which it can be done remotely and autonomously. Optimizing operational costs and using technology to reposition space and for facilities management can improve operational resilience. Commercial real estate prices as measured by the Real Capital Analytics (RCA) Commercial Property Price Index are projected to fall by 7 percent in 2020, a relatively benign outcome for real estate. Fifty-seven percent of private equity/hedge fund/mutual fund respondents said they are likely or very likely to identify new alternative data sets for insight generation and facilitating investment decisions. View in article, Julie Bernard, Deborah Golden, and Mark Nicholson, Reshaping the cybersecurity landscape, Deloitte Insights, July 24, 2020. Dallas Real Estate Market Trends & Statistics 2020 In this section, you’ll learn about the top factors that make Dallas one of the strongest real estate markets today, including: affordability, job growth, and population growth. For example, an AUD500 million redevelopment of Melbourne’s Westfield Doncaster shopping mall is being transformed into a mixed-use property comprising retail, office, and health and well-being spaces.22, In most other instances, companies could increase the value of their properties by deploying smart building design and maintenance capabilities and offering more relevant services to tenants and end users. More than three-fifths of companies acknowledge that they are capturing Internet of Things (IoT) sensor data. They could also modernize asset management systems and enable data-driven decision-making related to demand-supply of physical space, location, collaboration with tenants and vendors, and managing and surveilling facilities. Commercial Real Estate Investments – As defined for the purposes of this report, the U.S. insurance industry’s CRE exposure consisted of $41.5 billion in directly owned properties and $396 billion in mortgage loans, for total exposure of $437.4 billion as of YE2015 (see Table 2); mortgage loan exposure excludes $31.7 billion classified as residential and farm mortgages. Commercial Real Estate Software Market Share, Growth, Statistics, by Application, Production, Revenue & Forecast to 2025. About one-half (48%) of respondents who said their company is using digital technologies, such as interactive mobile apps, to increase communication with tenants or end users, plan to increase investment on digital channels over the next year. As companies reinvent their talent function, leaders should make diversity and inclusion a foundational value by strategically infusing it into all talent actions.