With the real estate market constantly fluctuating, real estate professionals, home sellers, home buyers, as well as real estate investors need to keep a finger on the pulse of market trends. Following real estate market trends help professionals and investors to stay informed, monitor progresses, and to understand buyer and seller behaviors and when the optimal times to sell properties are.
11 members of the Forbes Real Estate Council have shared their expert predictions for the future of the real estate market through the end of 2021 and into 2022.
1. Laura Gottesman, Gottesman Residential Real Estate:
Less Urgency To Buy Residential Real Estate
Looking ahead in residential real estate, I see less urgency to buy as more people get outside of their homes and are drawn back to other activities. Robust cities will remain very strong and prices should stabilize for the short term as more inventory emerges. The exodus from metropolitan areas should subside and second home markets are likely to experience a softening.
2.Atticus LeBlanc, PadSplit:
The Workforce Will Face Homebuying Challenges
The affordable housing crisis is facing a perfect storm with the housing shortage and growing barriers to entry with higher credit scores, deposits and income requirements for renters. God forbid you actually have an eviction in your past. As a result, our workforce will have more challenges finding a place to live. So the question now becomes: What are policy makers actually going to do about it?
3. Keith Weinhold, Get Rich Education:
The Market Will Appreciate Significantly
Though “crash” articles get clicks, real estate will appreciate at an above-average rate through late 2021 for three reasons–scarcity, utility and demand. Scarcity: there is a shortage of 6.8 million housing units. Utility: the home is now the center of the remote workers’ world by being both the office and gym. Demand: Millennials are America’s largest generation, in their prime home-buying years.
4. Alex Hemani, ALNA Properties:
Housing Prices Will Become Unaffordable
Simply put, there is a lack of inventory in the affordable housing space and all the buyers that want to buy can only afford those types of properties. Builders are building houses that the average American cannot afford. Inventory is continuously shrinking and there are more buyers than ever for that product. Housing will continue to rise until it becomes completely unaffordable for the public.
5. Bradford Dockser, Green Generation Solutions, LLC
The Use Of Technology Will Drive Value Of Assets
I predict that developers and owners will increase their interest in using technology to drive the value of their assets. It is going to be about looking for more ways to use technology to drive positive financial and climate outcomes.
