FIve Real Estate Trends

Real Estate

1. Millennials and baby boomers are going to dominate the market. This means people buying their first home, and those looking for retirement homes, which will mean big changes in what people are looking for and what they don’t deem as necessary.

2. Millennials are continuing to look for excellent housing deals in hip midwestern cities like Madison, WI, Minneapolis, MN, and Columbus, OH.

3. Home prices are predicted to slow this year, from 4.9% last year to 3.9%. Growth is calming down since the market has rebounded, and that’s not necessarily a bad thing.

4. However, there is 11% few houses on the U.S. market, meaning those that are there may move more quickly than expected. On average, houses are selling a week and a half faster than they used to in a more flooded market.

5. Finally, though the rest of the country is slowing down, the West is growing, and is predicted to see a 5.8% increase, much higher than the national average. The west coast is an enviable place to live, but perhaps not an enviable buyer’s market.

 

Source ARAG