DENVER -- Every year, the Counselors of Real Estate (CRE) surveys its members to discover what the most pressing issues facing the real estate industry might be. Scott Muldavin, chairman of the Counselors of Real Estate Today, at the National Association of Real Estate Editors (NAREE) conference in Denver, CRE chair Scott Muldavin unveiled a list of the 10 challenges the industry will face. "As real estate agents, we're all futurists," said Muldavin, pointing out that purchasing a home, securing a mortgage and even signing a lease are all activities that require some thought about the future. In a departure from previous years, Muldavin started the list with the item that CRE members think is the most pressing one for the industry to face right now. 1. Political polarization and global uncertainty "Today we're going to start at the top because political polarization and global uncertainty is an issue that permeates almost all the other issues," Muldavin explained. He ...
- Political uncertainty affects trade, consumer prices, home prices and mortgage interest rates.
- Big baby boomer and millennial populations (who want different things in their homes) are causing generational disruption and housing mismatch.
- The proliferation of real estate technology is also going to have a big impact on consumers, agents and brokers.