Despite a serious dip, the housing market is starting to pick back up. With a few exceptions, the number of home sales per year has been steadily increasing since 2010, and this trend may continue.
A better market is no excuse to not do research, though. There are still a lot of factors that go into how well a house will sell and how much it will sell for.
You might start by looking into real estate trends to understand what's selling and why. We'll talk more about some of these trends in the paragraphs below.
1. Housing Prices Have Gone Up; Buyers Have Gone Down
The economy may be getting back on track finally, but it's far from fixed. Employment is up, and wages are slowly increasing.
Costs and interest rates are also increasing, and many Americans are still finding themselves unable to afford homes on their current incomes. The unfortunate result of this is that while the selling price of your home may be high, the number of buyers might be slim.
In this case, the "sell my home fast" approach may be best. You may find that some of your best options will come from house-buying companies.
2. Community Developments
Some of the biggest home-buyers today are the nation's youth. Despite being the butt of endless jokes, millennials are creating major innovations in the housing market and setting new real estate trends.
Going against the traditional ideas of privacy and self-reliance, several companies have created dorm-like living spaces where tenants share a common kitchen and living space, but have their own bedrooms and often bathrooms.
In the divisive times we live in, people are eager to return to a sense of community, and these co-living spaces are helping them do that. Most of us don't have co-living spaces to sell, but living in a vibrant community may work just as well.
Try emphasizing the attractive features within your community, and what there is to do around town.
3. Tech-Savvy Housing
Technology will continue to play a role in the housing market in the years to come. While most of us don't live in smart houses, we may have some appliances and other features that are fairly new or advanced. These should be mentioned when selling your home.
If you're selling a house unfurnished, this is less of an issue. It may be more beneficial to sell unfurnished.
In most areas, smart houses and high tech properties are still rare. It may be easier to buy more advanced appliances separately than to look for a house that comes with them.
Still, it never hurts to do research. You never know what advantages your home may be hiding.
Real Estate Trends to Know About
There are a lot of real estate trends shaping the market today. We've mentioned only a few of them in the paragraphs above, but there are plenty more out there. We encourage you to do more research on your own if you're interested.
If you want to know more about the real estate market, particularly in and around Staten Island, please keep browsing our site.