The most definable real estate trend for 2016 was a lack of inventory. Coupled with strong buyer demand, a shrinking supply of property for sale means that home prices will rise—and that real estate agents are increasingly valuable. Whether you are just starting out with a career in real estate or a seasoned veteran, EXIT Realty Nexus offers the in-depth training you need to earn a fantastic living as a real estate agent.
We can divide the housing market into three segments, ranked according to price range: starter homes, trade-up homes, and premium homes. Inventory dropped 10.7% for starter homes and 9.2% for trade-up homes, while the availability of premium homes declined by only 3.6%. This means the inventory squeeze was felt mostly at the lower end of the market, and indeed, first-time homebuyers paid 1.7% more for a home than they did in 2015.
These are all areas a professional real estate agent can help with. Looking to get involved? Now is the right time. Here’s why:
- Millennials Are Buying Homes: They’re not just buying starter homes—many young buyers have saved enough to take advantage of low interest rates and go with something with more long-term potential.
- Suburban Development Is on the Rise: The move toward denser communities of mixed housing and urban amenities has hit the suburbs as well. The blend of urban and suburban living provides the best of both worlds—and huge growth opportunities for buyers and brokers alike.
- Generation Z Will Buy Houses Soon: Sure, they’re teenagers now, but the first post-Millennials are reaching college age in 2017. They’re coming of age in an era of low interest rates, better job prospects, and higher wages, and they are a generation that values homeownership—97% of the Generation Z age group wants to own a home.
EXIT Realty Nexus is a real estate brand consumers can trust, and agents can feel proud to be a part of. Visit the EXIT Realty Nexus online to start your home search today, or call (612) 281-1033 with any questions.