Real estate trends vary a little from year to year. Sometimes it's a buyer's market, and other times sellers are favored. Knowing what is going on in financial and investment sectors can often signal you whether it's time to buy or sell. 2016 is starting off with some great inventory available in some pockets, while homes in the average price range and lower are selling faster with multiple offers. Millennials are finally beginning to invest in real estate in larger numbers, which should continue to rise all year. This is still a year that favors both buyers and sellers in various markets.
The Millennials
As more and more millennials are approaching retirement, eighty-percent say they recognize the need to invest in a permanent home. Expect to see them purchasing homes in this current buyer's market. Every sector of the country will enjoy home purchases from this group. A widely diverse group, millenials seem to purchase homes of every type. Townhomes and single-family residences seem to be the most popular purchase, but condominiums and homes with rental potential also are high on the list. Millennials are choosing homes that will cater to their retirement years. Just last week we placed a buyer with one of our amazing real estate agents in Minnesota. This buyer is 18 years old. Did you think of buying a house when you were 18? Times are changing!
READ MORE: http://ballennetwork.com/important-real-estate-trends-for-2016/