2013- Trends, Supply and Demand- Asheville and Beyond
“We have a limited amount of resources available and more and more people using them up. If we want our future generations to enjoy the same standard of living we've experienced, we need to take action…” reports the National Association of REALTORS® (NAR). And it is true-
That is what can motivate Asheville real estate professionals and our clients, keeping an eye on real estate market trends and how the industry may function in the future can be a key to success today…and into the future . I like to think of all of us enjoying our gardens for years to come (see photo)...but what else might we predict?
While doing research on this I found ( Sage Companion Reports) more about what this means for older adults who may be looking to downsize or "age-in-place"- .As the Joint Center for Housing Studies- Harvard University research shows that recent remodeling activity in houses built in the 1980s and 1990s reveals "...suburban housing stock lends itself to remodeling activity."
Real Estate Trends Lasting Comfort
Here is a list from the Harvard study.
1. Updating kitchens and baths
2. Increasing energy efficiency
3. Reconfiguring rooms
4. Updating heating and cooling systems
5. Enlarging garages
6. Adding decks
7. Adding rooms for offices, gyms, or other activities that were not a part of typical home life when the homes were first built will continue to be demanded.
NOTE- NAHB Some of this remodeling (perhaps even the majority) could well be done when/if selling a home as US homebuilder confidence surges to a 6-year high.
let me know what YOU think
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