2022 Year in Review: Jay Connolly, Connolly Brothers, Inc.

What emerging trends will drive investment and development in 2023?

Everyone has their eye on the big unknown: interest rates. We are starting to hear more about developers putting the pencil down to let things cool and investment in real estate decelerating, and consequently we are focusing on markets that stay strong in a slowdown. As noted in a recent economics report from Deloitte, the most likely scenario is that inflation gradually settles near 2% by mid-2023, with the Fed then slowing rate increases. However, we are not seeing any of the above yet, and based on significant demand for construction and design services, we are cautiously optimistic about 2023 being a very busy year.