Real Estate Practice Group
THE STATE OF THE REAL ESTATE INDUSTRY: CONTRACTION, SHORTAGES, AND STABILIZATION
The real estate industry has experienced a significant contraction in 2022, with new home builds down 20% from the previous year. However, this decline comes after over a decade of robust home construction that has still left the U.S. in an overall housing shortage.
The vast majority of homes purchased in the last 10 years were financed with stable 3-5% mortgage rates. As a result, these homeowners are unlikely to sell or downgrade in the near future, even with rising interest rates. This should help provide some inventory stability and prevent an overload of distressed sales.
Manning + Company's approach to real estate is two-fold:
Great Design - We admire developers, both residential and commercial, who are interested in outstanding design and moving beyond the traditional "box." Good design creates more livable spaces and builds lasting value.
PropTech Efficiency - Manning + Company is very bullish on property technology innovations that can drive efficiencies across real estate transactions, financing, construction, sales and management. We want to help connect our clients to the startups and technologies modernizing this sector.
Our Real Estate Practice works with companies at all levels, from individual contributors up to executive leadership. We have relationships with engineering, construction, development and property management firms seeking the best talent.
Globally, Manning + Company aims to be known as the go-to staffing partner for any real estate professional role. Even amidst slowing markets, there continues to be high demand for skilled people who can envision, build and manage outstanding spaces.
Please let me know if you would like me to modify or expand this draft blog post in any way. I'm happy to incorporate additional details on real estate market trends, Manning + Company services, or other topics relevant to your audience.
