An important part of starting any business is being aware of the trends that go on throughout the year and knowing what is expected to change. There’s no point in continuing with a business if a person doesn’t ever change up their marketing strategies and promote what’s hot during a certain time of year. This matters dramatically for the housing market.
Changing trends in real estate affect your long-term financial status. Knowing when to buy or sell is an important one to keep tabs on. For example, according to Fortune Builders, 2017’s housing market showed homes being sold quicker than the previous year. This is important to note because another trend in housing for this year was seeing more millennials buying their first home. The U.S. Census Bureau reported that the millennial population is about 75.4 million people, surpassing the 74.9 million baby boomer population. Being aware of this can put home sellers at a great advantage when trying to sell affordable homes out in the suburbs.
It’s critical for investors to evaluate the real estate market so they know what trends to market on in the future. While anything can change, being ahead of the game can make the transition into different trends much smoother. Another reason to stay ahead is so you’re aware of the type of inventory, regarding housing, that is available. Depending on the location and features, prices for homes can increase, decrease, or stall, according to Realty Times. It gives sellers and buyers a clue on what the short-term and long-term prospects are on the house and if it’s better to act now or later, even if it’s better to wait a year.
Realty Times goes on to explain that knowing real estate trends also lets people know what the process of buying or selling a home will be like. If sellers are having a good season, offers on a home are usually expected to be higher. This helps set the listing price, determine how long it will take to sell, and if there may be any delays when selling.
Investopedia makes an excellent point on how it’s necessary for a property investor to adapt. It’s the only way to be ahead of the curve when commercial and residential markets continue to get new trend developments. Another example is how live streaming and live broadcasts are increasing with new technology. This is a huge trend that the real estate market can take hold of. Sellers can provide live streaming from their house and show off the rooms and features, allowing people to watch in real time. This saves time and money preparing an open house and sparing buyers the travel, especially if it’s in a remote area from them.
Trends change practically every few months in multiple aspects of everyday life. Real estate is no exception and being aware of the changes can help ensure a successful home closing!
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/