What's Exciting About the Real Estate Industry in 2022

Posted On Thursday, 19 May 2022 21:56

The real estate industry is undergoing a period of rapid transformation, spurred by the global pandemic, shifts in demographic purchasing power, and novel applications of emerging technologies.

While some entrenched industry mainstays are justifiably nervous about all the change happening around them, there’s also a palpable sense of excitement in the air. Real estate agents see new avenues for business in the changing demographic trends. Investors see new ways to get their money into the real estate market with decentralized systems. And consumers see increased accessibility and transparency through modern proptech platforms.

It’s an exciting time to be buying and selling properties. In this article, let’s walk through (to use a real estate term) a few exciting trends in the real estate industry in 2022.

End-to-End Solutions for Real Estate Consumers

The real estate buyer’s journey used to be a piecemeal, costly and relatively protracted affair. But real estate digital marketplaces like Nobul are changing all of that.

With Nobul, consumers now have a centralized, end-to-end hub through which they can start looking for a home and finish looking for a home. They can select agents based on personal criteria, view curated listings, make appointments, and chat with their agents through the platform. Agents can also compete for clients’ business by offering commissions savings and personalized offers. It’s all part of what CEO Regan McGee calls “the world’s first end-to-end technology platform for real estate transactions.”

“What we do is advocate for the consumer while bringing more transparency to transactions,” McGee tells Medium. You can mark 2022 as the year of the consumer in real estate.

Ascending Value, Shifting Demographics

The global real estate market is forecasted to grow at a CAGR of 4.9% in the next six years, reaching a market value of 4.9 trillion USD. And as it stands, North American property markets enjoy among the highest price growth in the world. The ascending value of homes has been a boon for many in the industry, leading news outlets like The Globe and Mail to declare realtor incomes “inflation proof.”

But all that growth carries its fair share of transformation too. According to Finance Online, millennials have unseated boomers as the largest buyers of real estate in 2022. This shift has spurred many in the industry to look at new ways of marketing and new modes of outreach.

Blockchain Takes Center Stage

Blockchain is all over the news in 2022, including in real estate trade journals and industry blogs. According to Deloitte, the emerging technology (most commonly associated with cryptocurrency) could revolutionize the industry, expediting due diligence, improving property searches, enabling fast financing and facilitating real-time data analysis. For anyone interested in the future of real estate, consider reading their full report.

That’s just a taste of what’s exciting in real estate in 2022. A longer list might include virtual reality property showings, increased suburbanization, automation in real estate management, and iBuyers. In short: there is a lot to be excited about right now.  

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