Moving into 2023, we are experiencing a major evolution in the real estate market. It is
important for buyers, sellers, and investors to keep an eye on the real estate trends that will be
shaping the market since these developments will not only impact the industry as a whole, but
they will also affect individual buyers and sellers on a personal level.
In this blog, let’s explore some of the top real estate trends to watch in the current year!
● Urban to Suburban Migration Will Continue
The COVID-19 pandemic sparked a trend of urban residents moving to the suburbs (also referred
to as 'Zoom Towns') in search of more space and less density. This trend is expected to continue
into 2023, as remote work and flexible schedules become the norm for many workers.
● Sustainability Will Become a Priority
As the effects of climate change become more evident, homebuyers and builders alike will
prioritize sustainability in their real estate decisions. This could mean a rise in eco-friendly
construction and a push for energy-efficient upgrades in existing homes.
● Technology Will Play a Larger Role
One of the biggest trends we will see in 2023 is the continued integration of technology into the
real estate industry. From virtual property tours to digital transactions, technology will make the
buying and selling process more efficient and accessible for everyone involved.
● Affordability Will Remain a Challenge
As housing prices continue to rise, affordability will remain a challenge for many homebuyers.
This will be especially true for first-time buyers who are trying to enter the market. In 2023, we
can expect to see more buyers turning to alternative financing options, such as co-buying or
shared ownership, to make homeownership more affordable.
● Aging-in-Place Modifications Will Gain Traction
As the population continues to age, more homeowners will opt to make modifications to their
homes to allow them to age in place. This could include adding wheelchair ramps, installing grab
bars, and other features that make the home safer and more accessible.
Year 2023, in conclusion, promises to be an exciting year for the real estate industry. From
technological advancements to sustainable building practices, these trends will shape the way we
buy, sell, and live in our homes. Thus, in order to take full advantage of the opportunities these
developments bring, it's crucial to stay informed and adapt to them.