As 2020 comes to a close, it’s time to start looking ahead to the real estate trends that will be shaping the market in 2021. The pandemic has had a huge impact on the real estate industry, and it’s likely that many of these changes will persist into the new year. Here are some of the top real estate trends to watch in 2021.
1. Increased Demand for Suburban Homes: The pandemic has caused many people to reconsider their living situation, with many opting to leave the city for the suburbs. This shift has created an increased demand for suburban homes, and it’s likely that this trend will continue into 2021.
2. Growing Interest in Fixer-Uppers: With the pandemic causing an economic downturn, many potential buyers are looking for more affordable options. This has led to an increased interest in fixer-upper homes, which can be a great way to get a good deal on a property.
3. Rise in Remote Working: With more and more companies embracing remote working, many people are looking for homes that can accommodate their lifestyle. This has led to an increased demand for homes with features like home offices and extra space for remote learning.
4. Growing Interest in Green Homes: The pandemic has caused many people to reconsider their environmental impact, and this has led to an increased interest in green homes. These homes are energy-efficient, eco-friendly, and often come with lower utility bills.
5. Increased Popularity of Smart Homes: Smart home technology has been growing in popularity for years, but the pandemic has caused an even greater surge in demand. Smart home features like voice-activated lights and automated thermostats can make life easier and more convenient.
These are just a few of the real estate trends to watch in 2021. As the year progresses, it will be interesting to see how the pandemic continues to shape the real estate market.