Real Estate Trends to Watch in 2018
We’re down to the last few days of 2017 and we’re starting to look towards the new year. With a new year comes new real estate trends. We scoured several of the top real estate publications to pinpoint real estate trends for 2018.
The supply will increase.
Out of all of the possible trends for 2018, this one should make you breathe a sigh of relief. According to Realtor.com’s chief economist, Danielle Hale, the housing supply will finally start to catch up to the housing demand. “The majority of the year should be challenging for most buyers, but we do expect growth in inventory starting in the fall,” she tells the website. This is very good news for the end of 2018.
There will be a Shortage of Starter Homes.
This is a 2018 real estate trend that you may not have thought about. Starter homes will become hard to find in the new year, according to realestate.com. They predict the smaller houses becoming scarce mainly because of cost.
More Millennials will Own Homes.
Millennials will make up nearly half of all homeowners in the new year. Realtor.com predicts that 43% of mortgages in 2018 will be taken out by millennials. That’s a 3% increase from 2017. Don't underestimate what this age group will do in the new year.
The South will See a Housing Boom.
The new year will be a big year for all southern states! According to Realtor.com, southern cities will “beat the national average in 2018.” They specifically call out cities like Dallas, Tulsa, Little Rock and Charlotte. Curbed listed Nashville as one of the markets to watch in the new year, putting them at No. 9 for the overall rank.
Is 2018 the year that you finally make your dreams a reality and look for your dream home? Our talented, hardworking agents at Synergy Realty Network can help. Call us and let’s make 2018 your year!