Prepare for the Homeownership of Generation Z

Millennials — the name given to the generation born between 1982 and 2004 — have been capturing the American imagination as they come of age, especially with their rejection of many things older generations took for granted: shopping malls, food preservatives and fast food, network television, automobiles, the suburbs, and buying homes. It’s become common knowledge that Millennials prefer urban-like locations, public transportation and bikes, healthy food, phone apps, and renting. However, let’s not overlook Generation Z, born (arguably) between 1995 and 2010 (precise definitions vary). They already consist of 21 percent of the American population, or 66.3 million people, and ...

How Will the Rental Market Affect Real Estate Agents in 2018?

The hottest thing going on in real estate? Single-family rentals. Detached homes or townhomes -for rent- are being produced faster than any other sector of the housing market. That’s more than single-family home purchases and multifamily properties. The Urban Institute reports that the single-family rental has seen growth every year since the dawn of the Great Recession, and has remained at a 30 percent growth rate for the past three years. Compare that with less than a 15 percent growth rate for the once-red-hot multifamily market. After declining for seven years, the single-family rental is hot again. The number of households ...

The U.S. Housing Market 2018: Boom or Bust?

Many experts predict that sellers will continue to control the market in 2018, with housing inventory at astonishing lows and housing demand continuing to rise.  This trend will allow private and institutional sellers to keep their prices high. Inman reports that low inventory may be the biggest factor in discouraging buyers in 2018 – this is in spite of the housing that started rising to 1.297 million units in November 2017. The listing shortage will also affect pricing. In 2017, 25 percent of homes on the market sold within two weeks or less during the peak buying season, according to ...

The Suburbs Are Not Dead — Here’s Proof

We’ve all heard the stories and maybe even began to believe the hype: that Millennials are rejecting communities that depend on automobiles; they’re turning their backs on the suburbs that most of them come from. We’re told that they prefer cities, which offer a walkable live/work/play environment. They gravitate to communities offering public transportation (including light rail), bike trails, and life within walking distance. This is an authentic trend; it’s happening. However, rumors of the death of the suburbs are highly exaggerated. In fact, the only thing Millennials seem to be driving is the suburban resurgence. It turns out that Millennials don’t ...

Keep an Eye on these Real Estate Trends in 2018

As the real estate business continues to be altered by technology, housing supply will catch up with buyer demand, putting buyers in the driver’s seat. So fasten your seat belts – the ride will be fast but ultimately stable. Realtor.com reports that, after three years of a housing shortfall, a spurt in inventory will begin in the second half of the year. Once inventory recovers, there will be plenty of demand to meet the supply. The site predicts that the for-sale housing inventory is expected to stay tight in the first quarter, reaching a 4 % year-over-year decline in March. ...

2018 Real Estate Outlook

As we look ahead to 2018, you should still be feeling good about the real estate industry. A number of important economic factors will continue to make housing a profitable profession, but there are some areas of concern that you should be wary of as you craft your long-term business plans. The following are the biggest takeaways from the real estate market as we begin the new year. A strong economy will continue to drive the housing market The stock market is at record highs and so is the consumer confidence, a strong indicator of whether ...

Fewer Americans are Foreclosing on Homes

It’s been a long road, but America is finally creeping out of the shadows of the 2008 economic meltdown that sent home prices tumbling and forced millions of Americans into foreclosure. Not only is the economy growing, but more people are buying homes. Just as important, fewer and fewer people are falling behind on their mortgages. Here’s a snapshot of the current state of affairs for foreclosures. 13-year low According to Consumer Affairs, there were 191,824 foreclosed properties in the U.S. in the third quarter of 2017. That total ...

How the Tech Workforce is Reshaping U.S. Real Estate

Over the last two decades, high-tech industries have reshaped the U.S. economy. According to CNBC, the top five most valuable companies in the U.S. are all in the tech sector: Apple, Google, Facebook, Amazon and Microsoft. Not only has tech led to a tremendous amount of wealth in various parts of the country, but it has also led to millions of people moving to cities that are home to major tech firms, transforming local real estate markets in the process. Property values go up in tech hubs According to a study by RedFin, real estate values rise ...

Video Tips on How to Create an Eco-Friendly Dream Kitchen

Is it possible to be environmentally conscious and build a dazzling kitchen? Absolutely! This video describes the ways that eco-friendly homeowners can score points on style and help Mother Nature simultaneously. With energy-efficient appliances and recycled or reclaimed materials, you can design a stunning place to cook that will boost your home value.   ...

Home Sales Pick Up Slightly in September

The real estate sector is still humming along, but has been showing signs of tapering off in recent months. Economists are generally predicting that home prices will continue to rise in 2018, just not quite as fast as they did in 2017. The most recent data from the National Association of REALTORS® shows reasons to be encouraged as well as areas for improvement. Existing-home sales up 0.7% After declines in June, July and August, sales of existing homes inched up in September to a seasonally-adjusted annual rate of 5.39 million. ...