Leading up to the 2008 recession, home sales dropped, bottoming out at just 4.12 million sales in 2008. But recent years have seen a steady rise, with more than 5 million homes sold this year.
The growing number of sales has spurred changes in the real estate industry, including plenty of new real estate trends.
From utilizing new tech to buying outside of major cities, there are a number of trends new home buyers should be aware of.
Keep reading to learn about a few, pertinent 2019 real estate trends.
Virtual Tours & New Technology
Of the housing market trends on this list, this one might just be the most useful for those looking to buy or rent a new home.
The use of drone footage, virtual tours, and other technology-fueled tactics for marketing and showing homes is growing in popularity.
Drone footage is not only great for showing the size and layout of a property but it is also a catchy way to draw in buyers. It’s often used on social media to catch the attention of followers and to showcase homes and properties for sale.
Virtual tours are another popular tool for showcasing homes. Moving beyond simple staged pictures, these tours allow buyers to view homes when they’re on a time crunch, after normal tour hours, or from afar.
If you’re trying to buy a home while also packing up your old one, moving to a brand new city, or are just busy, this is a great tool to take advantage of.
These tools can also be useful if you’re trying to sell your home. Talk to your Realtor about whether drone footage or a virtual tour might help you get your home ready to sell.
Second Cities and Suburbs Are on the Rise
Millennials have been moving to major cities for years now. Chasing art scenes, modern apartments, and jobs, they left behind the so-called “second cities” and suburbs.
But now, statistics show that those millennials are moving back.
Some are looking for more affordable housing or larger properties. Others are chasing the jobs that are now returning to these cities as we continue putting the 2008 recession behind us.
You don’t have to be one of those millennials to reap the benefits of this real estate news.
The real estate market is seeing many new single-family homes built in suburbs and second cities, which include places like Louisville, Kentucky, Colorado Springs, Colorado, and of course, La Jolla, California.
These cities still offer the benefits of their larger counterparts, including plenty of restaurants and stores, access to the arts, and job opportunities. But they also come with less traffic, lower living costs, and more single-family homes.
Prefab Homes Are All the Rage
Pre-fabricated homes are one of the most interesting of the real estate industry trends.
Inexpensive, easily customizable, and eco-friendly, pre-fabricated homes are a growing choice for millennials and even some older home buyers as well.
If you think pre-fab means living in a tiny home or a trailer, think again. Pre-fabricated home technology is now being applied to larger builds to help make building a home faster and less expensive.
Taking Advantage of Real Estate Trends
Now that you know a few of the real estate trends that you should be on the watch for this year, it’s time to start taking advantage of these and other trends.
Use them to check out new homes, get a great deal, or learn where homes are selling right now.
If you’re ready to start shopping for your next home, check out our ultimate guide to buying a home today.