REAL ESTATE MARKET TRENDS: What to expect in the next year.

July 26, 2023
The real estate market is constantly changing, and it is important to stay up-to-date on the latest trends. Here is what you can expect in the next year; 
  1. Greater emphasis on sustainability: More buyers are looking for homes that are environmentally friendly and energy-efficient. Builders are responding by incorporating sustainable features into their designs.
  1. Continued low interest rates: interest rates have been historically low for several years, and they are expected to stay low in the near future. This is good news for buyers, as it makes homes more affordable.
  1. Increased competition: With rising home prices, competition among buyers is also increasing. Multiple offers on properties are becoming more common, and buyers need to be prepared to act quickly.
  1. Rising home prices: Home prices have been steadily increasing over the past few years, and this trend is expected to continue. Low inventory and high demand are driving up prices in many areas.

Landlords grow rich in their sleep without working, risking, or economizing.
John Stuart Mill

  1. Increased use of technology: Real estate technology is advancing rapidly, and many agents are using it to streamline their businesses. Expect to see more virtual tours, online listings, and other tech-driven solutions in the coming year.
  1. Growth in suburban areas: many people are leaving areas in search for more space and lower prices. This is leading to growth in suburban areas, where homes are often more affordable than in cities.
  1. Continued demand for rental properties: Rental properties are in high demand, especially in urban areas. Investors are taking notice and are buying up properties to rent out.

By keeping an eye on these trends, you can make informed decisions about buying or selling a home. Remember, the real estate market is always changing, so it is important to stay informed and work with a knowledgeable agent.

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