If you’ve been keenly following the trends in the real estate market this year, you’ve probably already deduced that 2014 is a great year for investment. The housing demand is back on track, interest rates are slowly on the rise, buying prices are still favorable and the inventory of distressed properties is still providing investors with favorable investment opportunities.
If you’re an aspiring investor looking to get started with an investment in real estate and want a good glimpse of how the rest of the year will unfold, we’ve brought to you the latest release of 2014’s top 6 real estate trends. Based on general surveys and interviews with real estate experts, investors, developers, lenders, builders, services and market-watchers, these top 6 trends are likely to shape the rest of 2014’s real estate market to favor investors like you.
Millennials are Moving into the Market
The millennial generation is now making its way into the real estate market. However, it should be noted that these young aspirants are not only looking for homes to live in, but they are also looking for investment property. On the downside, you have a lot of competition to deal with; but the good news is that there are a lot of properties available to satisfy your investment needs.
Second-Tier Cities will Lead the Market
It seems like real estate investors and developers have had a good share of the pie from cities like New York, San Francisco and Washington D.C., and the investment scenario is taking definite shape in cities like Portland, San Jose, Seattle, Houston, Austin, Dallas, Boston, Miami and Orange County. Setting up an investment practice in these cities can increase your chances of success.
Smile Investing will Fare Well
The trend of investing from the Northeast to Northwest is likely to fare extremely well in 2014. The best states for investment include Florida, Arizona, Texas, Northern California, Oregon and Washington.
Family Apartments will Wane
As the economy continues to recover, the demand for single member housing will increase. This trend is likely to take shape towards the end of the year due to an expected increase in employment opportunities. With the younger generation moving towards better employment opportunities, the demand for bachelor / bachelorette pads will increase.
New Constructions are on the Rise
With the inventory of distressed properties drying up and the drastic improvements in the economy, new constructions are now on the rise. Potential investors are relying on real estate developers for investment in new constructions.
Interest Rates are likely to Rise
While the market appears favorable to sellers, the buyer’s market will soon have to look for innovative ways to source funds. Interest rates are on the rise and property rates are gradually rising, too. This gives you immense control as an investor to sell property to buyers as quickly as possible.
The real estate market is performing well nationwide. However, the trick to successful investing lies in knowing when to invest, where to invest and how to invest.
