Tiny houses, a speaker that talks back, Millennials and Gen Z adults– how do you keep up with real Estate trends?

10 years after the housing crash in 2008, the Market is back on the rise. Since the crash, realtors have noticed some surprising and weird real Estate Trends in 2018.

Here are 10 trends that will blow your mind!

1. Millennials Buy Homes

Home-ownership among Millennials is on the rise. In fact, research shows they buy more homes than any other generation, making up 36 percent of the houses bought in 2017.

Minimum wage increases, easier mortgages, and determination are factors for this housing market trend.

Before you buy a home, it can be helpful to have someone by your side to navigate new territory. Read more here about how Broker BreakUp can help.

2. Supply Equals Demand

For the first time in the past decade, the supply of available homes almost equals the demand.

A steady market is underway as Baby Boomers look to sell and Millennial and Gen Z adults look to buy. It is no surprise that these two generations take equal part in renting either.

Baby Boomers rent their homes out to the younger generations which is creating a steady flow for the real estate industry.

3. Short-Term Rentals

Short term rentals are here. One of the more shocking real estate market trends is short term.

Gone are the days where you sign a year to two-year lease for an apartment or bedroom. Six-month leases are more popular than ever. Despite commitment issues in relationships, the younger generations have brought those same issues into the real estate business.

4. Co-Living and Communal Homes

Family units, couples, single roommates, friends– the real estate market is open to a variety of living situations.

Co-living and communal homes are seen more and more as 2018 continues. Friends move in together to save on money, fill extra rooms, and transfer to urban areas. Families stay more consistent with children who stay in the home longer but look for their own space.

Artist and agricultural communes are common this year, as well. With the invention and popularity of tiny homes, the ability to travel and live within large acres of land is appealing to new home-owners.

5. Tiny Living

Miniature houses. Tiny apartments. The smaller the better.

As more home hunters look for ways to reduce their space and waste– tiny living continues. This minimalism is a trend that took off a few years ago, now in 2018, it’s still going.

Of all the current real estate trends this is the weirdest. In order for a home to be considered “tiny”, it must be between 100 to 400 square feet. That is compared to the over 1,000-3,000 square feet of a normal size home.

6. Steady Urban Construction

Construction in larger urban areas is going strong. From New York to Chicago there is a steady flow of new construction projects, expanding the realty market.

As a result, rent prices stay low to moderate. Renters have an easier time finding space within their budget and as more people migrate from rural areas, the supply of spaces keeps up.

7. Shop Online

A reason so many renters and buyers find a place to live is through online shopping.

Websites like Zillow, Trulia, Realtor.com, and Craigslist are popular among new homeowners and renters. They allow you to view and compare prices in your area, give you estimates, show the home and set up appointments.

As everything shifts to an online platform, the real estate industry is doing wonders to keep up. The use of these sites over calling a realtor directly is a trend that won’t be going away any time soon.

8. Social Media Presence

Another trend that is here to stay is social media. Shocking, we know. But Facebook, Twitter, Instagram, and Pinterest are the best sites for real estate.

If you are looking to buy, rent, or sell Facebook is the best platform to start. There are groups, pages, and now marketplace that cater to those exact needs.

If you want to up your game, create an Instagram or Twitter page to stay up-to-date on trending information, follow specific accounts related to real estate, or showcase your own.

Pinterest is great if you want ideas on home decor or want to see how well your own ideas work.

Regardless of which social media accounts you chose, you should try to have at least two. The demographic for each site is different so if you want to reach a larger audience you will need to expand.

9. Staging

When you decide to put photos up on any of those sites, try staging.

Staging is when you take an empty residence and fill it with modern decor to take it from being a house to a home. How you stage the home will depend on your market.

For a trendy market, you’ll want more modern, minimalist decor. Try vibrant color accents for the walls, area rugs, giant green plants, and innovative lighting. New buyers want to visualize their home as an ideal– you may even be able to get more bang for your buck if they want to keep some of the decor.

Hang art on the walls, put some food in the kitchen, really make the space welcoming.

10. Smart Home Technology

It’s 2018, and smart technology is here. The popularity of smart technology has a direct impact on the real estate market, right now.

Nest, Alexa, Google Home, lighting, home security– these are the types of technology new buyers and renters desire. They are known for being energy efficient and convenient which is what most homeowners want right from the start.

Not only are homes or apartments with smart technology more desirable but they go on the market faster than those without.

Real Estate Trends

As you keep up with real estate trends throughout the year, keep an eye on these ten in particular. The real estate industry is set to evolve as technology becomes more advanced and younger generations step in to fill more homes.

If you want to hear about more trending topics, check out our most popular weirdness!