Like many industries, the real estate industry has changed drastically in recent times, mainly as a result of the pandemic. The pandemic and the changes to practically all areas of life have changed people’s wants and need when it comes to real estate, which means that there are a number of interesting trends that are dominating in 2022. It is helpful to be aware of these if you are looking to buy or even if you are staying put, so this post will look at a few of the major trends that are shaping the real estate market in 2022.
The Race For Space
One of the most notable trends has been the demand for more space. Many homeowners are looking to buy bigger homes, for example, you could be looking at buying in a small community in southern Minnesota such as New Ulm, or a bigger community in New York, have extensions built, or convert areas like attics and basements since the start of the pandemic. This is mainly due to the fact that many people are remotely working at least on a part-time basis and require more space in the home.
Moving Out Of The City
Following this, many people are also leaving the major cities for quieter, more rural, and natural areas. Again, it is the rise of remote work that has driven this, as many people are now not tied to a particular location because of their job. People may want to escape the hustle and bustle of living in a major city, plus you might find that your money can go a lot further in more rural areas.
The sale of manufactured homes is also steadily on the rise, and this is for good reason. Manufactured homes from companies like Factory Homes NW are appealing for a number of reasons, including the fact that they are usually much more affordable, which makes it easier for people to get on the property ladder. In addition to this, the houses can be built in just a few months, and you can have a house built with all of the amenities that you need. In a time when property prices continue to rise, manufactured homes are a good solution for those that are struggling to buy.
Like in many industries, sustainability is also a major trend right now. People are becoming increasingly eco-conscious and now want houses that will help them to reduce their environmental impact. Solar panels, energy-efficiency appliances, and green building materials are all heavily in demand right now.
Smart tech is also heavily in demand, and there are all kinds of technologies that can help homeowners in many ways. Smart thermostats, smart lighting, video doorbells, remote-controlled windows, and smart locks are just a few examples of the kind of tech that people are looking for in their homes. This is what will draw people in.
These are the main real estate trends that are shaping the industry right now. It is always helpful to be aware of these trends whether you are looking to buy or you are staying put and looking to add value to your home.