2016 will be written in the history books as _______ (We’ll let you fill in the blank). The Presidential Election, Chicago Cubs winning the World Series, 2016 Olympics, Brexit, Angelina and Brad divorcing… shall we go on? 2016, you will soon be behind us! 👋 For those of you anticipating the New Year, can you guess what real estate trends will emerge in 2017?
Hover over each of the 8 images to reveal 2017’s real estate trends:
What is trend 1 of 8?
It is expected that nearly 80% of residential growth will occur in suburban communities over the next 10 years, compared to just 15% for urban areas. What are your thoughts? Is “surban” right for you?
What is trend 2 of 8?
It turns out that Millennials are skipping starter homes completely and heading straight to move-up homes. It looks like they have been saving and can afford it.
What is trend 3 of 8?
97% of the Gen Z age group wants to own a home.
What is trend 4 of 8?
As lenders, we need to change to fit the wants and needs of the next round of home buyers. Optionality means finding multiple values in a single investment,” says James F. McClister, author of Six Emerging Real Estate Trends to Watch in 2017. For instance, developers are already doing that by allowing multifamily tenants to use their units as either a living space, a work space, or both.
How about all of those self- employed people that have been left out in the cold from mortgages the past few years?
What is trend 5 of 8?
Access to credit is opening doors in more than just mortgages!
What is trend 6 of 8?
After a 6.3% increase over the past year, home prices are poised to rise another 5.2% through September of 2017.
What is trend 7 of 8?
In fact, Gord Collins stated “[new construction homes] are forecast to grow strong this year and next, particularly single family homes, which will rise about 30%.”
What is trend 8 of 8?
A recent study by the National Association of REALTORS® (NAR) showed that “nearly 20% of realtors who aren’t already using drones said they plan to use them in the future.” Home buyers and sellers will also be able to use drones by 2017, as operators will no longer need a commercial pilots license to fly.
Finally, a reason we can all support drones! It’s becoming easier to buy and sell your house.