There are many opportunities to invest in real estate this year and that trend is expected to continue in 2020. Although there have been discussions about a looming recession, the vast majority of economists anticipate that the real estate trends detailed below will continue to progress.
Growth in Suburbia
There is currently a growth in the number of families moving to the suburbs. It’s anticipated that this trend will continue into 2020. The reason why it’s happening is because millennials are desiring to raise their families in quiet neighborhoods. In suburbia, there is a desire to also have an urban feel, which is achieved through the development of retail centers and improved transportation. This is causing developers in suburban areas to somewhat mimic that of urban areas. In many ways, it’s like having the best of both worlds.
Rise of Senior Housing
It’s no secret that people are living longer and more vibrant lives as a result of advancements in technology. There is a steady rise in the number of people around the world living beyond the age of eighty and that number is continuing to rise in the United States. As a result, there’s a need for housing that will accommodate this population of seniors that want to maintain a healthy lifestyle. Despite advanced age, seniors want to have amenities in housing that enables them to enjoy every aspect of life.
There is a constant desire for an improved infrastructure in many cities and local governments are spending more time developing roads and other aspects of the transportation system. This includes trains and bridges. As a result, there is an increased number of opportunities for real estate investing.
Another noteworthy trend in real estate is the use of technology for both buying and selling real estate. There are also smart technologies that can improve the quality and value of a home. Quite frankly, technological advancements are expansive across many areas of real estate.
These are all trends that will shape real estate in 2020. Whether you want to buy or sell a home, you can benefit from these technologies. If your housing situation is changing in the near future, there’s a lot on the horizon that can help to ensure you’re able to find the right housing solution.