Ever since the recent recovery of the housing industry in the United States, people have been buying houses as means of an investment. The unexpected recovery of the real estate industry has evoked countless changes in trends which have been dominating the housing industry.
The annual report of the National Association of Realtors (NAR) has shown new trends which have gripped the real estate industry and sparked some intriguing changes in the industry. Here is a rundown on the latest market trends which suggest that there has never been a better time to invest in the housing industry.
Prices Soaring through the Roof
The health of the housing sector directly relates to the price of houses in the real estate industry, and recently, prices have been sky-rocketing when it comes to real estate. Bidding wars are back, with sellers demanding top notch rates for selling their houses, which has been caused by the increase in demand for houses and the limited availability of homes in the market. If you are looking to sell a house or invest in a new home, now is the best time to do that, before the new mortgage rates come into effect, so act fast!
Fickle Buyers Selling Homes Earlier
The general trend in real estate for new home buyers was to stay in a home that they have bought for around 15 years at maximum, but the recent demand of homes and the new design and construction trends in the real estate market means that buyers are staying in their homes for a shorter period of time. The NAR report predicts that more buyers will sell their homes much more quickly in light of the current real estate market demand.
Married Couples Raising the Demand for New Homes
Married people – first time home buyers – are now actively looking to buy homes, rather than renting them. There has been an incredible surge in the number of newlyweds who are looking to invest in a new home. This suggests that if you are looking to sell your home, you would be well advised to stage it in a way which will appeal to newly married couples.
Buying Homes Online
Gone are the days when people went to see homes, the internet has made everything so much easier for everyone. Online listings have made searching for homes and identifying their market price a walk in the park. Statistics have shown that more 80% of people looking to buy homes look for houses online in their locality. Current new home buyers pointed out that they looked for property available for sale online, which suggests that if you want to sell your home fast, listing it online can turn out to be a great move for your business!