Top 10 Real Estate Trends That Will Impact 2019

Top 10 Real Estate Trends That Will Impact 2019 The previous years was full of events that seemed like a roller coaster of twists and turns in the real estate market. The market often changes and shifts which is why you need to stay on top of things and understand what will affect what in the future. Here are some trends that will impact the future of real estate in 2019.   Technology Tech innovation has already changed so much in this world and the real estate industry is not an exception. It has been changing rapidly in the past and this will only continue in 2019. For example, there are companies like Homesnap, Trulia, Zillow and others which have changed how buyers and sellers see the market. It’s crucial for all real estate agents to adapt to this new market and learn how to get more attention from their market.   Blockchain This is a trend that is also changing the entire world and affecting many industries. Blockchain applications are changing how we see the world and they are also changing the way buyers and sellers interact. There is more transparency and the real estate world is more fluid than ever before. Real estate agents need to accept these changes as something valuable and something that will make their job much easier, not an enemy.   Co-ops Buyers are actually leaning more and more towards buying co-ops because they are less expensive. Some boards are still difficult to pass but there is certainly more development, especially in big cities like New York or similar.   Homes are still more and more expensive The real estate market shows that some homes will only rise in price in 2019. The average growth in cost of a home has been between 5% and 10% in the past few years. There is no surprise in that since the growth has been steady for years. There might actually be some normalization in real estate prices in the future.   Cap Rates Get Softer “The cap rates will become softer by 25 points because of flat rent projections, rising property taxes and volatile interest rates. This is for fully stabilized properties.”, says Randy Olsen, a business writer at Draftbeyond and Researchpapersuk.   Retail assets still dive Online sales are continuing to keep the malls empty and barely worth being in but some properties are doing their best to struggle the new retail economics and to include multifamily redevelopment. There should be more of these in the future.   Millennials will buy homes Even though many publications state that millennials don’t want to or can’t afford a home, there are more and more reports saying that homeownership for this group is on the rise. They also rent a lot which means that they are a strong real estate group. Baby boomers are also selling their homes and they are starting to rent more.   There are new buildings There are many new buildings in construction and that’s largely responsible for keeping the prices of rent affordable and normal. There will be lower rent growth but it will still be above the average.   There’s not enough homes on the market “Due to various reasons, largely not defined, there is just not as many homes on the market as there should be. This is where agents can change the situation and explain the market to the homeowners as well as prompt more of them to sell their homes.”, says Abigail March, a real estate blogger at Lastminutewriting and Writinity.   Online presence There is more and more need for online presence, branding and so on. You need to manage your reputation online because it can impact your business if not properly managed. The generation Z has more influence on the marketplace and they have already changed in how real estate is designed and marketed   Jaimy Hammitt is a real estate writer at Gum Essays and Lucky Assignments. She shares her advice to help everyone get better at investing in real estate and learn more about it.

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