Three Hot Topics in Real Estate Right Now
If you’re looking to sell or buy a home, you’ve likely heard all the usual buzzings of home prices, down payments, pre-approval and more. However, there are new, timely topics also driving the current real estate market. Let’s take a look at three of them.
Three Current Issues Affecting Real Estate
- Remote Work & Mobility. COVID-19 significantly impacted how and where space is used. One of the biggest lessons learned during the pandemic is the benefit of more flexible, easily adaptable work spaces and schedules. Remote work is now more common than ever. Therefore, where people are moving is less dependent on a physical office location. This is giving remote workers the opportunity to move to more affordable areas and buy more “house” for their money.
- Technology & Innovation. The adoption of technology during the pandemic has impacted everything, including real estate. Things like virtual tours and video chat have allowed real estate professionals to connect with clients anywhere in the world. These options are ideal for potential buyers and sellers who aren’t local to the area.
- Housing Supply & Affordability. Housing demand continues to outpace supply, leading to an increase in prices in many markets. However, homes are still more affordable than they have been historically, and while housing supply is still low and home prices are appreciating, more homes are coming to market.
For more information on topics driving the real estate market and how they might affect you, reach out to the Knickerbocker Real Estate team today!