MarketWatch published a list of 5 real estate trends expected to take shape in 2017.
- Use of Drones: Increasingly, drones will be used by sellers and real estate agents, especially with regards to properties over an acre in size.
- “Surban” Communities: The inclusion of urban amenities in suburban communities. This trend will reverse exclusive suburban living and afford residents a more complete living arrangement, instead of constantly commuting to bigger cities.
- Millennial Home-Buying Habits: Instead of starting out with a condo or a starter-home, higher-income millennials (ages 26-35) are jumping directly into a move-up property.
- Trump Effect: President-elect Trump may adopt policies geared toward faster economic growth, which is good news for real estate. However, the president-elect may cut government spending, which may slow down the property sector. Also, in the medium run, faster economic growth may result in higher inflation and, subsequently, higher interest rates.
- Emergence of Generation Z: Generation Z’ers will turn 18 in 2017 and will start forming expectations about home-buying, the cost of money and other real estate matters.