Through positive performance, many real estate agencies believe that they can survive despite the slow rising economy and other negative factors. There are certain forces as well as trends at play when it comes to uplifting “doggone good” analysis. In fact, many realtors are striving to provide the best deals for home buyers in order to keep up with the demands and expectations of the current market.
To help determine the factors affecting the existing realty market, here are the top real estate market trends to consider this year for a successful home buying decision:
•Second-tier cities are taking the center stage
It’s no secret that second-tier cities are now taking off. Garden City and Long Island remains some of the best locations to find a new sanctuary since they offer convenient transportation and comfortable lifestyle in terms of affordable cost of living. People obviously want to take advantage of low cost of living in cities they want to move in. Hence, it’s important to provide excellent benefits that they can enjoy and live with.
•Millennial parents decide to stay in ‘Burbs
Traditionally, millennial people are believed to be obsessed in urban living. But nowadays, they are moving to cities where they can provide better and more comfortable living for their beloved children. According to research, larger numbers of soon-to-be parents will quickly fill up suburban properties particularly in areas of Long Island and Garden City. With the growing availability of developers in suburbs, there are more opportunities to take advantage of this year for home buyers, sellers and investors as well.
•Investments in the evolving real estate landscape
Job growth are one of the benefits brought by maturing recovery. In fact, it has significantly strengthened the commercial sector while dominant trends in open-office plans are increasingly becoming hype nowadays. Without any sign of declining or slowing down, this trend also fortifies investments as well as real estate properties in the area.
•New housing ideas and options
Home ownership is currently experiencing serious and significant shift unlike the previous years. As a matter of fact, figures have declined from approximately 70% prior to the struggle of Great Recession, to 63.5% during last year’s second quarter. With the increase in rental housing along with people’s enthusiasm to conduct experiment with microhousing, this shift has been significant to every age group. However, affordability remains an issue but there are better options offered by realtors to ensure that home buyers get what they exactly want.
•Parking lots to real estate properties
More and more young Americans are actually opting out of vehicle ownership while tech trends including autonomous cars and ride-sharing are starting to revolutionize transportation patterns. Real estate owners, government officials, and urban planners are perplexed when it comes to the use of parking lots as downtown properties. Trends are in fact suggesting that these existing parking characterizes “sub optimal use” of land and cities modify zoning regulations just to replicate such shift. Also, developers are curious about the benefits of this movement.
•Growing investments in infrastructure
With the breakdown in America’s infrastructure, people need better public services such as in transportation in order to make living more convenient. Citizens basically need improved aviation, better highways and roads, and even rail facilities. But these developments are not yet met by the government so there is lots of much-needed infrastructure to finish in the upcoming years. This only means that new models such as real estate investments and public-private partnerships are to be made for the benefit of the citizens.
•Increasing role and need for affordable niche lenders
The main theme in terms of real estate market trends is the increasing activities and investments. However, the bifurcating market for lenders is also changing along with the realty industry. Bigger projects need more capital and lead time while many developers opt to get financial support from larger banks.
The capital flow of US real estate market is not slowing down. In fact, the total acquisition number was $497.4billion in June 2015 – up 24.6% year-over-year while this year’s figures are projected to be greater or equal. Channeling such investment pool can go a long way with regards to shaping the landscape of US realty market. Capital will actually flow through alternate realty investments, renovation projects, 18-hour cities, and alternative asset class including data centers and lab.
To top it all, concept of investment by algorithm as well as data centric tool will require measuring against traditional intuition in order to precisely get the right figures and identify certain factors impacting on the real estate market trends today. With a bit of personal understanding when it comes to these trends, home buyers can successfully find what they are exactly looking for in a property, whether in Long Island or Garden City. Remember these factors and you shall find the best deal for your new home in a new environment, just visit URL.