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Real Estate Trends Emerging in 2020

Written by Posted On Monday, 25 November 2019 01:34

From home prices to mortgage rates to home features that buyers most desire and the cities they're flocking to, these are the 2020 real estate trends.

The number of homes sold in the US from January to April 2019 increased 12.4% over last year. 2019 homebuyers enjoyed low-interest rates. Sellers were blessed with high demand and limited supply. What will 2020 real estate trends look like compared to real estate trends of 2019? 

What are the top housing markets? Which features are must-have? Will listing prices continue to rise? Will there still be a limited amount of inventory? Keep reading to learn about the latest real estate trends.

New and Continuing Real Estate Trends

Which real estate market trends from this year will continue in 2020? What new trends will we see? 

Home Features 

Do you sometimes feel like you can't keep up with housing market trends? What kind of countertops are in the newest kitchens? What's hot in flooring? Do people still want open-concept? 

Smart Home 

One of the top features homebuyers want is smart home features. Can you control your thermostat from your smartphone? Can you see who's at the front door? These features are more affordable than ever and are in high demand. 

Kitchens

Big kitchen islands, lots of storage, a wine fridge, a farmhouse sink...these are the things you see in the latest model homes. A great kitchen is still on the top of every homebuyer's list. 

Bathroom Must-Haves

If you watch any of those house hunting shows, you know that a double vanity is a must-have. Now add a free-standing soaker tub and custom walk-in shower to the list. Add a timeless design and you have what's trending in bathrooms. 

Hot Markets

Which cities are going to be the "hottest" in 2020? The Urban Land Institute looked at the year ahead and named the top real estate markets in the US. 

Austin, Texas 

Austin came up from number 6 to take the number 1 spot. The capital of Texas is expecting a population boom in the coming years. The city is committed to business and real estate expansion. The downside is their ongoing traffic problems are about to get worse. 

Raleigh/Durham 

With 3 major colleges and several smaller ones in addition to the Research Triangle, this area has an overabundance of tech jobs. It takes second place in the top real estate markets for 2020. 

Prices Will Continue to Increase 

Inventory is expected to stay tight, driving up prices. People are staying in their homes longer, 13 years on average up from 8. Couple that will record-high homeownership and there's a shortage of homes on the market. The laws of supply and demand will keep prices rising. 

Baby Boomers Causing Problems for Millenials 

More and more Baby Boomers are "aging in place" i.e. staying in their homes, limiting inventory for Millenials getting into the housing market. The limited supply of homes makes it difficult for first-home buyers.  

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Real Estate 2020

Whether you're a buyer or a seller, you now know the latest real estate trends for 2020. Make an informed decision as you jump into the market.

Be sure to bookmark our page to keep up with expert advice on everything from mortgages to homeowners' associations to rentals.

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