What Real Estate Trends to Expect in the Last Year
Whether you are looking to sell your home or if you are interested in buying a house, it is important to be aware of the current trends in real estate.
As with every year, the market either flops or becomes a huge success and in the last year, it is expected to recover nearly to its fullest potential. According to Realty Track, the housing market in the United States has reached its highest price point since last year. With that being said, throughout, the market is said to balance out.
The Buyer’s Market
One thing to take into consideration is that some experts are stating that the real estate market will be an easier buyer’s market this upcoming year.
The value of homes will decrease to about 3% instead of the 6% that has been noted recently, making real estate a less attractive investment for many. The power that individuals have in terms of negotiation fair prices will be in the hands of buyers and slide away from sellers, helping to make the buyers significantly more balanced.
The more that the market slides towards the favor of buyers, the more difficult it will be to sell homes due to the fact that potential buyers have the ability to be pickier. There will be a higher amount of available homes, meaning that there is less competition for houses across the United States, allowing buyers to pick the houses that they think will be a good fit. They won’t have to worry about missing out on particular homes due to the fact that there won’t be very many people looking and many more homes will be put on the market.
One trend that may become more prevalent in the real estate market for last year is foreign investments. American real estate may become more attractive to foreign investors due to the fact that more countries are experiencing economic difficulties.
As an example, people who own property in the UK may be forced to pay a “Mansion Tax” that is associated with property that is worth more than 2 million pounds. Another reason as to why foreign investments may become more prevalent is because of fluctuating money values in the home countries of the investors.
This is when the market will experience more overseas buyers purchasing homes and property in America as it is a significantly safer investment than purchasing a property in their native land.