6 of the Big Housing Market Trends for Real Estate Investors

Since the commencement of the COVID pandemic, the real estate market has been nothing short of a roller coaster for both buyers and sellers.

Housing Market Trends

1) House Hunting Goes Digital

Because of virtual capabilities, many people could take a virtual tour of the property, and make buying decisions without even setting foot in the property beforehand. These virtual capabilities include: – 3D Tours – Drone videos – Virtual staging

2) Relocation from Cities to Suburbs

The COVID-19 pandemic has driven suburban migration from large cities. For the next 3-5 years, the trend of people opting not to live in big cities may continue. The shift is driven by two factors: need and choice.

3) Overwhelming Demand for Single-Family Housing

According to realtors, home sales have grown another 10% in 2021, bringing them to their highest level since 2006. In 2020, single-family house searches reached their highest level in four years.

4) Real Estate Price Will Continue to Rise

Current real estate trends are intricately linked. Prices for single-family homes climbed in 2020 as a result of growing demand and dwindling supply and are likely to stay high in 2022 and beyond.

5) Mortgage Rates Drop

In 2020, record-low mortgage rates encouraged people to buy homes. Mortgage rates reached a 50-year low in 2020, according to some estimates. Since reaching 4.94% in 2018, mortgage rates have been steadily declining.

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