A survey of Philadelphia-area real estate firms and professionals conducted by Saint Joseph's University painted a picture of a growing industry that may not keep growing for very long.
Eighty-one percent of respondents claimed their businesses grew in 2016, with only 3% saying theirs shrank. All of them said their businesses increased their hiring over the year. Only 59% of respondents expected their businesses to grow in 2017, with project management and construction as the areas most optimistic for the year ahead. A plurality of respondents from the banking, brokerage and property owner sectors expect business to remain more or less the same in 2017.
As for areas to target strategically this year, infrastructure was the leading response from those surveyed, followed closely behind by tax abatements and Millennials.
