As we move into 2022, there are a few real estate trends that you'll want to watch out for. Whether you're a homeowner or renter, understanding these trends will help you make the most of your property and investment.
So, without further ado, let's take a look at some of the most important trends you need to remember over the next year or so!
1) Increasing E-Buyers:
A growing number of buyers are making their purchases through the internet. We can expect more e-buyers in 2022, as more people become comfortable buying online. If you're a seller, this means that you need to make sure your property is well-represented online. You'll also want to be prepared for buyers who may want to complete the entire purchase process without ever stepping foot inside their home!
On the other hand, if you're a buyer, it's important to remember that not all properties are available for sale online. There'll always be a certain amount of "in-person" examination and negotiation involved in any real estate transaction. So don't be afraid to go out and see some homes in person.
2) Rising Interest Rates:
Now, this is a global phenomenon; rising inflation and interest rates mean that mortgages will be more expensive. This could mean that the days of cheap money are over, and buyers will need to budget accordingly. Covid and the following variants will also influence the settled rates and how the market reacts.
3) Millennial and Gen-Z Home Buyers:
These generations are now starting to enter the market for their first home. They have different needs and requirements than older buyers, so it will be interesting to see how developers adapt. Some things that could be on the horizon include more communal living spaces, shared offices, work areas, and even co-working/co-living arrangements.
4) Upward Bumps in Rents to Continue:
Rents have been steadily increasing for the past few years, and there's no reason to believe this will change anytime soon. In fact, they will likely continue to go up as demand outpaces supply in many areas. Landlords can expect to see more Millennials and Gen-Zs entering the market as renters, so be prepared to offer incentives like flexible lease terms and pet policies.
To conclude, there is no definitive answer when it comes to real estate trends. Every country, city, and neighborhood is unique, so it's essential to stay informed and keep an open mind.
The real estate market in South Western Florida is ever-changing and can be challenging to keep up with. That's why we at Bonnie L Miller PA, CNE-Exp Realty LLC serving St. James City, are committed to providing our clients with trending information on all buying and selling options.
As an experienced professional realtor, we can help you carve out a smart real-estate policy. We’ve been fulfilling the real estate needs of folks in the region for years now.
Contact us today if you have any questions about these changes and how they might impact your plans!