Dive Summary:

• The Urban Land Institute has completed its mid-course review of the annual outlook it published in March and says commercial sales will be lower than they had seemed likely to be, though residential property is looking better than predicted last time.
• Sales of office buildings, shopping centers and warehouses are likely to add up to about $223 billion this year. Combined with revised expectations of $250 billion next year and $275 billion in 2014, the result is 12% less than the March picture foresaw.
• Dean Schwanke, executive director of ULI's Center for Capital Markets and Real Estate, characterized the new report, based on a survey of economists, as "generally less optimistic regarding the economy and the performance of commercial real estate, and more optimistic regarding the single-family housing sector.”

From the article:

The Urban Land Institute released findings from its second semi-annual survey of the nation’s leading real estate economists and analysts on Wednesday, Sept. 26, and predicted less than hoped for commercial real estate sales in the next three years. ...