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TitleSmart’s monthly print newsletter provides up-to-date information on the market, including the latest trends and tips. View an archive of past 12 publications below.
Many millennials still live at home with their parents. However, this doesn’t mean people born between the years 1981 and 1997 don’t want to own their own homes. In fact, a Realtor.com survey revealed that 61 percent of first-time homebuyers are under the age of 35.
As often happens during economic cycles, the dynamics of real estate markets in the U.S. have changed once again. Investors who look to buy homes at low prices and sell them at the top of the market have already missed the boat and are now facing increased competition.
With the new administration underway, Donald Trump is already working on a new tax plan. Analysts at Baker Newman Noyes, a leading national accounting and consulting firm, have reviewed President Donald Trump’s vision for tax reform and predict that the changes to the tax code will have significant impacts on the real estate and construction industries.
Although tiny homes are still illegal in many places across the U.S. because they often don’t meet zoning and building standards, some cities are starting to change ordinances to allow the downsized dwellings. In some places, entire tiny home communities are developing.
As real estate magnate Donald Trump begins his term as president in 2017, there are likely to be some big changes on the horizon for the U.S. housing industry. Over the past year, housing markets across the country saw healthy increases in home values, thanks to low interest rates, lower gas prices, stronger wage growth, and millennials beginning to enter the market.
The U.S. property market landscape has not seen many changes since 2015. In addition, the U.S. Federal Reserve has already stated last December that it expects to increase the federal funds rate by 0.25 points, which should further stabilize the economy.
Some major changes in the upcoming years are expected to create huge changes on commercial real estate, according to executives surveyed by Akerman LLP as a part of the law firm’s annual commercial real estate report. These trends are expected to shift real estate over the long term and may even result in permanent changes in how the real estate industry conducts business.
Across the United States, things are starting to look good again for home sellers. In fact, the residential real estate markets in many areas are doing better than they have for more than a decade. Throughout the country, strong demand is driving faster sales and attracting higher prices.
In the 1950s, suburbs grew rapidly as people moved out of city centers to the newly developed neighborhoods designed exclusively for suburban living. However, times have changed and people are returning to the cities to be closer to work, shopping and cultural amenities. Urban home values are now worth roughly 2 percent more according to a January 2016 report from Zillow, and their values continue to grow faster than suburban properties.
Which Are the Fastest-Growing Neighborhoods in the US?
In some neighborhoods across the United States, the real estate markets are changing, and they are changing fast. While many of the fastest-growing neighborhoods were once considered downtrodden or places to overlook, these days they have become hotspots where job opportunities are on the increase and new homes are being built.