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Integra Forecasts Outlook for Major Markets in 2001

NEW YORK CITY-Multifamily housing offers the most promise, thanks to baby boomers and echo boomers, the industrial market appears stable but the lodging industry, with lots of product in the pipeline, may suffer a setback as the economy slows.

By John Howe | Updated on February 05, 2001

NEW YORK CITY-Integra Realty Resources, the real estate appraisal firm headquartered here, has released its 13th annual edition of Viewpoint, its assessment of what investors can expect during the next year in the commercial real estate market. Market sectors analyzed in the report include multifamily, retail, industrial, office and hotels.

Multifamily–Prospects for this sector are bright, thanks to the growing numbers of echo-boomers who are attracted by the shorter commutes, lower maintenance and the proximity to shopping, restaurants and entertainment. Their parents, the empty-nester, baby boomers, are also boosting this market as they look to cash in on their high-priced houses in exchange for accommodations that free them from having to mow the lawn and worry about replacing the roof or the hot water heater. IRR judges the southern Florida market as strong, along with Atlanta and Phoenix. Austin, while red hot at the moment, may face dangers of overbuilding, a threat that may be wane with the growth of employment and population.

Retail–Coming out of a difficult Christmas season, this sector show signs of softening despite a good start at the beginning of the year and an outstanding fourth quarter in 1999. IRR warns that there may be too many malls, which should give investors caution about moving into this market.

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