Here Is What You Can Expect From The Real Estate Market In 2018

Written by Posted On Friday, 08 December 2017 11:51

The Real Estate Market has seen a consistent increase in prices in 2017 and the homebuyers, as well as homeowners, are wondering what the scenario will look like in the coming year. If you are thinking of buying a home or selling one, this article will help you understand what to expect for the coming year regarding the real estate market.

  1. Inventory Problem

There has been a shortage of homes that are available for sale that we have been facing for the last seven years. The problem is it does not seem to go away anytime soon. Even though this sounds to be difficult news for the buyers the homeowners looking to sell can benefit from the situation. However, the inventory problem is expected to be sorted by fall of 2018* as the development of new houses has been on the rise since August 2017.

  1. Population Growth

According to real estate experts from Houston home buyers, Offer Climb Houston, population growth and the household size are also big factors to be considered when looking at the trend of real estate market.The population growth rate has seen to be increasing at a slower pace than before, and hence we do not expect a drastic change in the number of people requiring new homes or the household sizes increasing. However, it is expected that the majority of the people looking for homes will be expected to belong to baby boomers and millennials’ category.

  1. Growth in Prices

With the millennials out there in the market looking for homes, the demand for homes will keep on increasing. However, since the demand will keep on increasing with a shortage still prevailing at our heads, it is not a surprise that the increase in home prices will keep on growing. This will become a problem for the millennials looking for homes as not many of them will be able to afford to buy houses. However, experts are expecting the growth in house prices to be coming down than it was in 2017 in the high-end homes’ category. For the entry-level properties, the price growth will continue as the demand for such homes will keep on increasing.

  1. Occupation of Suburbs

It is also expected that as the demand for property is expected to be coming from the millennials as a majority, it is expected that there will be a growth in the number of people living in the suburbs. This is because the millennials, even though would like to live in the urban areas will not be able to afford such areas due to the high prices. It will be tough for the millennials to compete with the rising demand and will thus result in moving to the suburbs.

PwC/ULI Emerging Trends in Real Estate 2018 report - Read it here.

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Matt Lee

Matt Lee is an SEO and content marketing specialist serving building material manufacturers. He’s the founder of digital marketing agency, Lead Generation Experts, and Local SEO Course, Rise Up Local, that teaches business owners how to rank higher and get more leads through search engines.

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