What 2017 Real Estate Trends Investors Need to Know
We know that real estate investing comes with both risks and rewards. Part of being successful as an investor is being able to change and adapt to all real estate environments. Therefore, it is important to be aware of the market around you. Let’s talk about the 2017 real estate trends you should know about it.
New Home Construction
As a savvy investor, you may already know that new construction is expected to regain some steam this year. Single-family housing is expected to rise by over 10%. There is a gap to discuss. Inventory is lower than it was a year ago, so this will provide an opportunity for builders to step up and fill in that gap. Supply and demand. With new home construction on the rise, this presents an opportunity for investors who are ready to jump on investing.
How Properties are being used in 2017
We are a part of a changing dynamic in society where people are sharing and co-living. This creates an economy that affects the way people commute, vacation, and work. From sharing cabs and ubers, to singles renting multiple bedroom apartments and housing with the plans for roommates, in order to save money. With all of these options out there for people, it can change the way investors invest. Such as investing primarily in multi-family, like apartment units.
The Global Economy
The forecast is good for the worldwide global economy. It is expected to grow, but not as fast or high as predicted. With the election subsequently affecting global markets, there has been a lot of change at the end of 2016 which will hold an effect on 2017. Investors should factor in foreign markets and how they may trickle down to effect the U.S. real estate market. Just some things to think about as you stay tuned into the worldwide economic trends.
Let’s Talk About Drones
This is a very cool trend, great for real estate as a whole. Drones have been approved for commercial use which will allow endless access to the views of real property. We are talking every single angle being covered. It is trendy, in demand, and one step up from the rest. As far as from a marketing standpoint, the drone services will make it possible for potential tenants to view the property as if they are there, from wherever they are really at. It can make moving to a new city, like Walnut Creek, California, possible from your computer.