BERKELEY — Real estate sales this year are expected to be buoyant in Phoenix, Tucson, Atlanta, Austin, Tex.; Lowell, Mass.; Fort Myers, Fla.; Nashua, N.H.; La Vegas, Boston and Lansing, Mich.
That's the bullish forecast made by Kenneth T. Rosen, chairman of the UC Berkeley Center for Real Estate and Urban Economics.
Headlining the ninth annual Real Estate Symposium in San Francisco, Rosen told 1,000 participants that designated employment gains in pinpoint areas are the best indicator of where residential and commercial real estate will do sell in the immediate future. He stressed that such areas are not the only ones to watch, but that they can be counted on to be leaders in advancing real estate activity.
Conversely, Rosen pointed out, other cities that have projected downside tendencies in future employment and where there would be very little upswing, if any, in real estate sales next year and later. These cities include Buffalo, Pittsburgh, Cleveland, Baltimore, New Orleans, Rochester, N.Y., Providence, R.I., and Chicago.