 |
| Image source: pixabay.com |
With the new year comes new movements in the real estate market dictated by global events, technological breakthroughs, and financial market shifts. Change is but the only thing that is constant in the world, and the real estate market is rooted in that same soil.
In recent years, the real estate market has seen the growth of online brands built by well-received real estate agents. The Generation Y—the millennials—are quick when it comes to checking people online, therefore requiring the dominance of online brands for 2018, as younger generations are starting to get acquainted and knowledgeable of the market. Building a digital portfolio would make an agent’s credentials accessible to their potential and actual clients. As real estate agents invest their time in building their online presence, they have better chances of reaching a large audience.
 |
| Image source: pixabay.com |
The new year brings in good news for first-time homebuyers as prices are expected to decelerate. One factor that economists see is home construction; single-family houses will rise sharply in 2018, based on building permit applications. This news is followed by a report that’s going to balance the enjoyment for the deceleration of prices; mortgage rates are set to increase. Not only will the rates be higher, but mortgage rates will be at the highest since 2011.
As individuals part of Generation Z are on their way to investing in the real estate market, homebuilders and real estate agents are studying their behavior when it comes to product consumption.
Kimberly Dey is an entrepreneur. She is the President of Renaissance Property Associates in New York and the Vice President of the Charles B. Wang International Foundation. For more updates on the real estate market, subscribe to this blog.
Comments
Post a Comment