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Real estate trends to watch in 2017

On Behalf of | Feb 13, 2017 | Residential Real Estate |

Real estate investors in California may be able to make smarter business moves by staying up-to-date on the latest trends. Many analysts are saying that 2017 will not be a year for strong economic growth, and there is a lot of uncertainty in the markets. The International Monetary Fund downgraded its original projection about economic growth, and the Federal Reserve is expected to raise interest rates further this year.

Inventory of residential properties in the U.S. is lower than it was in 2016. With fewer properties, real estate prices are continuing to rise around the country. However, buyers facing financing difficulties will have to overcome obstacles to purchase the available properties. Builders may have an opportunity to fill a growing demand for more affordable properties.

Millennials now make up the biggest part of the home buying population at 33 percent. This new generation of buyers is bringing changes to the real estate market in the way that they look for properties and what they want in properties. Searching for properties online is now the most popular way to begin the home buying process. Today’s buyers are looking for more options such as co-living and co-working spaces.

While it’s important to look at national and global real estate trends, some markets will act differently than others. A real estate investor may want to discuss local real estate trends with an attorney who is familiar with the area that they want to invest in. An attorney may also help an investor to determine whether there are any potential problems with the zoning laws or lease agreements that apply to a particular property.