Top 10 Real Estate Trends for 2021
1. Homeownership– Homeownership rose dramatically in 2020 and is predicted to increase by at least 5% by the end of this year.
2. Low Interest Rates–Interest rates have remained low, helping buyers with afordability.
3. Housing Prices Increase –Historically low inventory in most areas is creating a "sellers market" and is driving home prices up, making this a great time to sell your primary home and downsize!
4. Millennial Home Buyers–Almost 38% of millennial home buyers are purchasing mid-to-upper-middle class homes.
5. Affordable Homes–87% of Home Buyers purchased resale homes that needed some "updating" over new construction or turn key homes.
6. Second-Tier Cities–As more companies are shifting to permanent "work from home" options, home buyers and investors are moving out of big cities and moving to smaller towns, second-tier cities and suburbs to buy bigger homes with backyards to create an "outdoor oasis"
7. Technology–Virtual Listing Appointments, Tours and Sales are great tools used by many real estate professionals to enhance effectiveness in this ever changing market for their buyers and sellers.
8. Mortgage Rates–As the economy continues to grow, experts expect interest rates to rise and then settle and stay steady?
9. Demand for Luxury Homes – This segment of the market increased by over 60% in 2020, discerning luxury buyers are looking for homes with outdoor amenities and high tech features to enhance their "life-style" living and leisure activities.
10. Smart Home Technology – Property managers are offering smart home technology in rental units to attract and retain tenants in big metro areas.
For more information on buying, selling, building, home staging or investing...please call, text or email me @ #317-407-5889 or KateRossSellsHomes@gmail.com
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