3 Hot Topics in the Housing Market Right Now

3 Hot Topics in the Housing Market Right Now

If you’re a prospective buyer or seller, it's important to understand the current real estate market conditions and how they affect your decision. The Counselors of Real Estate just released its Top Ten Issues Affecting Real Estate report which provides insights into hot topics in housing today including three major ones: prices are high; inventory is low ; mortgage interest rates will likely go up .

2/3 price increases over 90 days ago have not gone down 4% since last October despite signs suggesting otherwise - this may mean buyers who missed out on homes during these periods won't be able find anything available within their budgets 3rd most concerning issue affecting homeowners across America right now ̵

Technology Acceleration and Innovation

The past year has seen many changes to the real estate industry. One of these is that it's become more technology-oriented than ever before, with new technologies like blockchain being adopted by developers and agents alike in order to create efficient deals for clients who want their property management needs met quickly without wasting time or money on paperwork
Lockdown driven changes within our work environment as well social structures all push us towards adopting this attitude too; now there are also pressures coming at us personally because we've been dealing with everything - including people’s behavior during pandemics which accelerated adoption even further.

Innovations like digital documentation, virtual tours and video chat are changing the way that real estate is done. They allow agents to reach potential buyers or sellers no matter where they live in a more convenient manner for everyone involved - especially those looking at properties from outside their immediate area! For this reason many reputable advisors will continue using these technologies moving forward so as best serve clients needs with ease of access.

Remote Work and Mobility

Working from home became the reality for many individuals during the pandemic, and as a result it had an impact on real estate. The CRE identified remote work and mobility as being important influences in their findings:  "This is due not only because people can better maintain themselves but also keep up with family obligations," said one economist while speaking about how this impacted markets such has housing prices which have been seen higher than usual lately despite low interest rates making borrowing easier than ever before."

"In recent years, many people have been moving from the city to more rural areas. This is happening for a variety of reasons—some relocating because they can afford it and some seeking lower costs of living."

With remote work giving people the opportunity to move and buy their next home in more affordable areas, they're doing just that. Remote workers are taking advantage of this flexibility by moving into these cheaper locations which means it's no longer necessary for them to have an office near where you live or operate your business on-site at all times like before.

Housing Supply and Affordability

The housing market is getting hot. The availability of houses for sale and affordability issues have made CRE’s list of key factors this year:

"According to the National Association of Realtors®, America's state-by-state inventory levels are dire with chronic shortages needed in order support population growth."

There is good news. Homes are still more affordable than they have been historically thanks to today’s low mortgage rates. And while housing supply is still low, we’re seeing steady increases in the number of homes coming to market, which gives hope to homebuyers. As the supply of homes for sale improves, buyers will have more options.

Bottom Line

New technology, remote work and housing supply are key factors in today's real estate market. If you want to better understand how these topics impact your buying or selling experience let’s connect!  

Orr Team Lamont Orr Realtor

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