- Baby Boomers are holding up the inventory in the housing market, as they live longer, work longer and stay in their homes longer.
- Millennials – will continue to be the largest age group of home buyers (37%)
- Electronic signatures will be more common with other digitized changes will be coming.
- New term – Hipsturbia. As urban areas increase in price, millennials will turn to suburbs and outlying communities.
- Trends to look for in Hipsturbia – more walkablitiy, 24-hr. amenities and strong school systems.
- Millennials are least likely to compromise on school and neighborhood (The features they most look for: laundry room, patio, garage storage and walk-in pantry.).
- Our inflation rate is low (1.8%), we are considered to be at full employment (3.6% unemployed), consumer confidence is high (95 on a scale of 1-100), mortgage interest rates low (possibly going below 4%). 2020 is going to be a Great year!
- New construction continues, but still a pent-up demand.
- The real estate industry has more new, untrained & inexperienced agents. (The number of agents always increases when the market is strong). Your home is often the biggest purchase/sale/investment that you have. Hire an experienced Realtor – like the Eisenlauer Team.
As we end one year, our team meets to review the year ending and plan for the coming year. We assess our activities, our expenditures, goals met or goals missed. As part of the process, I do a bit of research to see what ‘experts’ are predicting for the new year. I’d like to share some of my findings.
Recent Comments