Demand for higher density development slowing down
Will 2018 signal the end of the latest real estate cycle?
JACKSONVILLE, Fla. – Recent gains in demand for infill development and other factors associated with community accessibility appear to be moderating.
Signs of market saturation, demand for walkable neighborhoods, multi-generational housing and access to public transportation remain very strong, but growth has leveled off, according to the findings from the American Institute of Architects (AIA) Home Design Trends Survey for the third quarter of 2017, which focuses on community and neighborhood design.
“Intense development pressure on urban neighborhoods seems to be tapering as more development swings back to suburban and exurban locations,” said AIA Chief Economist, Kermit Baker, Ph.D., Hon. AIA. “Though homeowners still desire access to community amenities, these results reflect a slowing of migration toward more dense neighborhoods.”
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