Have You Seen These Important 2016 Trends Yet?

Are real estate trends for 2016 going to make this a boom or bust year? It’s not all sunshine and daisies – but things are looking pretty good so far for the year. What’s trending?

  • Prices and mortgage rates are rising.
    Gaining since mid-2012, both are still climbing, just at a slower pace than recent years, inspiring confidence and prompting many to take advantage of rates before they continue to climb higher.
  • Millennials are driving the market.
    Buyers age 25-34 are now the largest share of first-time buyers (68%) and largest share of home buyers overall (38%).
  • Urban sales are rising.
    Particularly in 18-hour cities as Millennials drive sales back into town from the burbs in search of late-night options.
  • Amenities are evolving.
    Developers are ditching swimming pool construction in favor of outdoor theater and large, 24-hour, state-of-the-art fitness and spa amenities.
  • Beacon technology reduces the need for on-site handholding.
    One of the major real estate trends for 2016, Beacon texts area listings, provides detailed information during tire-kicking/open houses, and reduces time consuming one-on-one meetings.
  • Regulatory changes begin…
    Including the frustrating implementation of TRID (TILA-RESPA Integrated Disclosure), combining four complicated disclosures (The Good Faith Estimate, Initial Truth-in-Lending Statement, HUD-1 Statement and Final Truth-in-Lending Statement) down to two (Loan Estimate and Closing Disclosure), but unfortunately slowing down transactions with financing, appraisal, and inspection issues in efforts to increase transaction clarity for buyers.
  • Online funding is moving on up.
    Becoming increasingly accepted, especially as several marketplace lenders have been eaten up by consolidations or gone out of business.
  • Mortgage brokers are moving in…
    As part of real estate agency in-house teams, they’re quickly closing deals and snapping up the best interest rates for buyers.

Up on the real estate trends that can yield strong returns for your real estate career? Beef up your marketing portfolio with the help of Properties Online today.

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