While there are plenty of challenges this year including higher interest rates, continued high construction and materials costs and the threat of recession most of the larger construction companies have work booked well into next year.
Although the real estate industry is dealing with higher interest rates, construction costs, supply chain issues and other challenges, business is still being done, as the recent MEREDA conference showed.
Inflation will still be a factor this year, but we could see declines in interest rates and the cost of goods, James Marple, managing director and senior economist with TD Bank, said at MEREDA's annual Real Estate Forecast Conference.