Real estate companies in the US are expected to expand by 11 percent in 2017, according to a survey of more than 4,200 real estate professionals released by the Real Estate Board of New York.
The survey found that the sector was set to expand 1.6% to $2.8 trillion in revenue.
But it also found that real estate was likely to be hurt by the ongoing threat of the Zika virus, which is likely to cause the number of infected people to increase.
“As more people are exposed to the virus, we’re also likely to see an increase in the number that will get sick,” said Mark Jankowski, chief executive of the Real estate Board of America.
For example, the survey found more than 40% of respondents said they expect to be more vulnerable to the Zika threat this year, including 29% who said they would likely become infected.
In 2018, real estate will add another 3.7 million jobs, the board found.
Realty companies are also likely hit with the economic downturn that is currently plaguing the US economy, as the unemployment rate is expected to rise to 7.1% this coming year, up from 5.8% in 2017.
At the same time, the US is forecast to see the largest number of job openings in the world this year.