Real Estate Trends for 2014!

Where will real estate take us this year?  Experts from the Urban Land Institute unveiled their view of how the rest of the recovery will play out in their Emerging trends in Real Estate report, released this week at the land use and planning nonprofit's annual conference in Chicago,

The Millennial generation isn't forming new households, and they're not buying as many homes as their parent's generation.

Real estate recovery still hinges on job growth.  The slow pace of job growth as well as income and wage growth is still holding back the real estate recovery and that's not likely to change quickly.

Multi-family apartment building will wane.  The demand  for apartments during the recession boosted by increased demand from homeowners turned renters caused multi-family building to surge.  That's likely to calm down as supply and demand have swapped places.

Condo development is on the back burner right now. 

Inventory is coming back. The experts at ULI are predicting that 2014 will be the last year that low inventory will aid property price.  Distressed properties are waning and sellers are looking at good profits.

The buyer's market is gone.  Sellers know they can price their house to sell to buyers who are eager to buy before interest rates and home prices shoot up even further.

People are not necessarily heading out to the suburbs right now.  People are staying in their urban areas with more amenities.

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