Modesto, CA – Commercial real estate firm Graceada Partners analyzed major cities rebirth trends and highlighted data to predict the trajectory of the primary and secondary markets.
Primary markets are primed for revitalization, and this is directly correlated to many individuals and families having the freedom to live where they want. Meanwhile, secondary markets that offer a high quality of life will continue to grow.
The impact this trend will have on the economy is broken down by Graceada Partners into five predictions: apartment owners that create workspaces will thrive, companies that embrace intentional office work will be the real winners, a resurgence of entrepreneurship, cities with low employment or housing opportunity will stagnate, and people who left big cities won’t be returning.
The drop in rent prices across major metropolitan areas such as Chicago, New York City, and Los Angeles, may incentivize those in smaller markets to relocate into these primary markets. Additionally, markets with high quality of life such as Sacramento, Austin, Nashville and Charlotte will witness continued population growth as long as they continue to offer a perceived higher quality of life for residents.
Furthermore, the report states that retail in primary markets will slowly return but with a continued focus on creating experiences for shoppers. Also, the report explores multifamily and office buildings in primary markets and what experts anticipate in the coming months.
Click here to access the full report.