Posts Tagged as Real Estate Marketing Trends

The 2018 Real Estate Market Heats Us

Will Gen Z Knock the Competition Out of the Starter Home Market?

Though most of Generation Z are still a long way from being able to afford a home, real estate news points to this age group of home buyers as soon to be driving the market. Surpassing Millennials, Generation Z, born in the late 1990s and early 2000s, is entering the home-buying arena with rose-colored glasses and may soon be outpacing their Gen Y cohorts in home sales.

How Hot are Gen Z Buyers to Purchase Homes?
According to a recent report by the National Association of Realtors…

57% of Generation Z renters are confident that they will own their own home, compared to 55% of Millennials.
97% of Gen Z believe they will own a home in the future.
82% tout home ownership as the most important factor in achieving the American Dream.

Break Out the Boxing Gloves
Gen Z buyers, however, will face one of the most competitive housing markets in history, challenging not only Millennials, but Gen X-ers emerging from the rental market after losing a home to the property market crash of 2008. With nearly three-quarters of homeowners over 55 hunkering down in their empty nests, and a 17% year-over-year decline in the supply of starter homes, emerging victorious may prove to be a struggle.

Who’s Got the Edge?
Despite the competition, Gen Z’s fast-moving tendencies may push them to the head of the pack. In the rental market, this age group tops the charts in speed of searching – and applying for housing, submitting 3.1 applications on average to the 2.6 applications of Millennials, 2.4 for X-ers, and 2.2 for Boomers. This tendency, likely supported by Generation Z’s romance with technology, may offer them a competitive advantage as they enter the market in coming years.

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Important Trends to Keep You In The Know

Five Important Trends to Watch for in the 2018 Real Estate Market

If you are looking for some indications of what the real estate market will do in 2018, you’re not alone. Real estate has changed and the modern real estate market is affected by everything from world events and new technology to local economies. There are still some major influences that are likely to shape 2018 real estate trends.

Hi-tech construction

More components of homes are arriving at construction sites prefabricated. The rapidly-rising demand for new homes coupled with an ongoing labor shortage means construction companies must embrace construction automation and are constantly looking for new ways to improve efficiency.

More specialized real estate agents

Home buyers and home sellers will always need knowledgeable guidance from actual people who understand the intricacies of their local market. The industry is increasingly competitive and changing. To differentiate themselves from the pack of “sell anything” agents, savvy agents will narrow their focus and become experts in their area.

Boomerang buyers

During the housing market collapse and Great Recession, the households hit hardest by the mortgage crisis dominated headlines. Their numbers are estimated at more than 7.5 million. Their credit was damaged by foreclosures, short sales, or late payments. They are now past the seven years needed to repair their credit and again eligible for home loans.

Generation Z coming of age

The first wave of Gen Z-ers turned 18 in 2017. This upcoming generation has lower interest rates, better job prospects, and a greater desire for homeownership than many of the preceding generation.

Online brands more important than ever

Modern home buyers expect to find their homes, mortgages, and answers to all their questions online. When choosing a real estate agent, they look for more than just contact information. They expect credentials, testimonials, and a detailed portfolio of your work as an agent.

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