20 Real Estate Predictions for 2020

20 trends that in our opinion will affect the real estate market in 2020.

20 Trends That in Our Opinion Will Affects the Real Estate Market in 2020

1. The first half will be busy. The second half will be distracted by the Presidential Election.

2. Sellers will expand on home improvements beyond staging before selling, as buyers have become less inclined to buy fixer uppers. With home prices at a premium, most buyers do not have any cash left after closing for any improvements.

3. Consumers will become more educated to the liabilities of working with ‘do-it-yourself’ and discount brokerages.

4. Mortgage rates will remain low but could come under pressure as rising energy costs and wages trigger inflation.

5. The dangerous trend to tempt people to pull equity out of their home will become more prominate, exposing homeowners to the risks of short-sales and foreclosures, that affected millions in the real estate crash.

6. Urban migration will continue as the desire for walkability increases.

7. The shortage of affordable housing options will continue and expand. Smaller, more affordable homes will have extreme competition from first-time buyers, investors, and right-sizing boomers.

8. The lower end of the market will see the most price increases due to limited inventory and high demand.

9. Very large homes that are not ultra-prime will need to be re-invented - or deeply discounted - to appeal to buyers.

10. Buyers will seek homes scaled to their needs, avoiding homes with rooms and features they are almost certain will never be used.​​​​​​​

11. Sharing amenities and services will grow in popularity, even in single-family neighborhoods. The need for guest cottages and apartments will be in high demand to accommodate aging parents or returning kids.

12. Maintenance exhaustion. The less maintenance, the better!

13. Buyers and sellers will seek out real estate professionals that have a high level of experience and expertise.

14. Sustainability will become even more of a focus, reducing waste and being more environmentally responsible.

15. Expect new/higher local taxes to offset rising wages.

16. Smaller towns and suburbs will “citify” in attempts to keep people from moving to more urban areas. Urban areas will attempt to create more of a village feel to prevent suburban flight.

17. Expect zoning laws to be modified to allow more building density to bring down housing costs and reduce commutes.

18. Diaster recovery technology will grow as climate change continues. Recovering from storms, floods, fires, etc. will require technology to speed things up and minimize damage and disruption.

19. Expect sophisticated air and water filtration and other health-related home health enhancers to grow in demand.

20. The dream of home-ownership will continue to grow, no matter the shape or size, because in the end, we all want a safe and happy place to call our own.

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