As a Realtor, you know that housing trends are constantly changing. Prices and interest rates are always fluctuating, and different generations are buying various styles of new and used homes. It’s sometimes difficult to keep up with new trends in the housing market.
Some trends to watch out for this year, according to Forbes.com, are listed below:
• Prices continue to rise but at slower pace. During the summer months, your clients will want to find a new home before their children enter a new school district. Since many homes sell in the summer, your clients want to be in a preferred neighborhood for their family. It might be harder to make new friends at the beginning of the school year, and summer is a great way to meet new friends. If your clients wait until the end of the year, prices will most likely have risen since the summer, and they could lose their dream home.
• Builders shift to lower priced homes. Although prices will rise, builders have dropped their total pricing from recent years. More new homes are being built for a lower price, so there is a wider variety for your clients to choose from. Having several different home structures allows your clients to keep finding what they want and need in a new home.
• Millennials overtake Gen. X as homebuyers. Millennials are the upcoming home buyers and are on the hunt for a home to settle into. Generation X is not buying as many new homes, because they are satisfied with their current ones. Your millennial clients will be graduating school, starting careers, and wishing to settle with their new family. They are looking for the best tips in homeownership and seeking the perfect new home.