Real estate economists’ outlook on the U.S. economy and real estate markets improved throughout the year as economic data remain strong and real estate values and performance seem to be nearing bottom. Survey responses indicate that a soft landing has become the consensus view. The Fall 2024 ULI Real Estate Economic Forecast, a semiannual survey of economists and analysts, marks a shift toward greater optimism for real estate performance in the near term, with recovery taking shape in 2025.