Current trends in real estate include a mix of positive and negative developments. The market has been heavily affected by the Covid-19 pandemic that has created a new housing environment which is expected to alter the way we approach real estate for the next few years, and maybe beyond.
Here are the 10 key emerging real estate trends:
1. Increased Homeownership – Homeownership rates have increased in 2020 and are expected to rise by 5% by the end of 2021.
2. Lower Interest Rates – Lower consumer spending during stay-at-home orders have resulted in lower interest rates, helping affordability ratios.
3. Steep Increase in Housing Prices – Real estate has entered a seller’s market that may increase inventory, slowing the pace.