Real estate professionals have plenty to be bullish about in 2016. On the residential side, median home values rose 4.8% from March 2015, according to Zillow.
“A number of factors are driving this growth,” says Zillow. “And many are positive, including strengthening household formation, continued growth in jobs and wages, and general confidence and optimism in the overall value of homeownership, especially among younger generations.”
The commercial side isn’t bad either. CBRE, a major real estate services firm, predicts “moderate economic growth and low interest rates,” as well as a rise in rents across office, industrial and retail properties.
Property managers fulfill a critical role in this ecosystem, keeping investment properties running smoothly, whether those properties are ones they own or ones they manage on behalf of another entity.