The real estate market is constantly evolving, and it can be tough to keep up with all the latest trends. Whether you’re a first time homebuyer or a seasoned real estate investor, it’s important to look ahead. Here are some of the most significant trends shaping the future of real estate.
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The rise of remote work
One of the biggest trends in the real estate market is the rise of remote work. The COVID-19 pandemic pushed many companies to adopt remote work policies for their employees and it looks like this trend is here to stay. As a result, this has led to a greater demand for homes with features like comfortable home offices, ample storage space and the availability of fast and reliable internet.
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The growing popularity of sustainable homes
Another growing trend is the popularity of sustainable, eco-friendly homes. As more and more people become aware of their carbon footprint, they’re looking for properties that are energy-efficient and environmentally friendly. These homes have features like solar panels, rainwater harvesting systems, low-VOC and recycled materials, as well as charging ports for electric vehicles and more. Use of recycled materials – like shipping containers – is also on the rise.
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The rise of micro-homes
In addition to sustainable homes, a subset of that trend is the rise of micro-homes. These tiny houses are typically under 500 square feet and are popular among young professionals and retirees who want to downsize and simplify their lives. These micro-homes also attract remote workers who desire to have a home base while travelling the world.
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The growth of the sharing economy
The sharing economy has been growing at a rapid pace, and it has had a major impact on the real estate market. Services like Airbnb and Vrbo have made it easier than ever for homeowners and investors to earn extra income by renting out homes on a short-term basis. This trend is likely to grow as interest rates rise and creates more renters in the market.
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The increasing use of technology
Technology is transforming the way we buy and sell homes, and it’s likely to play an even bigger role in the future. From virtual tours to video-calling, the use of tech in real estate has blown the potential buyer pool wide open. Long gone are the days of expecting buyers from just a handful of zip codes. With new tech, we can market your home to the whole country and beyond.
From my perspective as a Real Estate Agent, the future of real estate looks bright! As we adapt to new technologies, tastes and budgets, there are plenty of things to keep an eye on. As your agent, I’ll be there with you every step of your home buying or selling journey. Contact me to get started!
