Real estate trends are constantly in flux. Keeping up with recent changes is the key to getting the best deal, whether you’re selling, buying, or renting. 2013 was a bounce-back year for the market after a long downturn. What are the trends in 2014, and what do they mean to you as you plan your next move? Here is what you need to know.
Millennials Are Entering the Market
The Millennial generation has finally made its debut in the real estate market, and their impact has been big. They’re moving to cities, but not the usual suspects. In fact, Minneapolis is one of the top 10 destinations for people in this age group. When they do move, unlike their parents, they tend to rent instead of buying houses.
Multi-Family Apartment Buildings Are Losing Favor
When the housing bubble burst and people lost their homes, families moved in droves to rental properties. To accommodate the surging demand, a large number of multi-family apartment buildings were constructed. Now that the housing market is recovering, many of these families are moving again, either into new homes that they own or into different kinds of rental housing. Additionally, even at peak demand, there may have been too many of these properties. This means that rent could be falling in these types of homes.
Suburbanites Are Moving
The exodus out of the cities and into the suburbs has ended. More and more people are moving to the cities from the suburbs for the amenities of urban living. Homes that are being built in the suburbs are focused on areas with easy city access or around communities that replicate urban lifestyles.
No matter how the 2014 housing trends impact your move, Men on the Move is here to help you get the job done. Trust us with all of your moving needs, both large and small. Our self-storage units in Queens and Long Island offer the ideal place to stash things as you transition to your new place or when you’re downsizing. Find out how easy our movers can make the entire process by calling (888) 369-2561.