Jun 21 2022
Top 5 Exciting Real Estate Trends to Watch in the Year 2022
The real estate industry is changing its landscape to fit post-pandemic expectations and is more focused on comfortable homes with bigger living spaces. Most digital real estate websites have seen an influx of new audiences, especially those looking to relocate due to work-from-home options. This market movement of increased demand provides limitless possibilities.
There are exciting real estate trends 2022 for home buyers and sellers, so it would be the best time to hire professional photo editing companies like Phixer to drive up sales conversion in the competitive digital market. Your professionally-edited photos have a higher chance of getting noticed.
TL;DR: Here are some of the exciting 2022 real estate trends you should check out:
1. Prioritizing relaxing indoor and outdoor mental health spaces
The past few years have been exhausting due to the COVID-19 pandemic and other global issues. People wanted more breathing space and switched dense urban areas for quiet suburbs, so demand for these properties and homes remained high. Buyers want wide spaces to do numerous zen activities like exercising, yoga, or reading books. Therefore, home size plays a part in their decision-making.
According to Realtor.com, suburban home listing views have increased by 42.1% since the pandemic in 2020, with trends of bigger-sized single-family homes. According to the consensus of the National Association of Home Builders, the average size of new single-family homes has increased by 6.2%.
You can sell your home quickly in 2022 by featuring relaxing places for excellent mental health. Comfortable living spaces are critical real estate trends now, so it’s important to highlight how future buyers can attain wellness and peace in your property. Photos should include mental health spaces.
Here are some tips on selling your property faster:
- Improve the bathroom ventilation and overall aesthetic.
- Prioritize features that bring in natural light.
- Stage your listing with indoor plants and comfortable wooden furniture.
- Replace your windows with wider ones to accommodate more sunlight.
You will see an exciting trend for real estate in 2022 wherein buyers prioritize spaces that are good for their mental health, so you should consider interior design’s psychological effects when staging your listing. Interior design techniques can improve emotional stability and alleviate depression and stress.
2. Some markets have more affordable starting homes than rentals
Supply and demand are shifting rentals and sales prices in different areas. For real estate market trends 2022, there will be high home prices because people will want to rent while waiting for the market to cool down. More people are looking forward to working from home conditions. However, due to the rising rental demand, the rent prices around the country also shot up.
Therefore, purchasing a starter home is more cost-effective than rentals in the following places:
- Cleveland, Ohio
- Birmingham, Alabama
- Pittsburgh, Pennsylvania
- Orlando, Florida
- Louis, Missouri
Although tech cities with more transient individuals or temporary occupants still have higher purchase versus home rental prices. This particular 2022 trend may also increase the demand for starter homes during the entire year. More cities might follow suit, so you should keep an eye out.
3. Homes use new technology
The information age made things more convenient for people to communicate information and ideas worldwide. People adapted to innovations and modern technology such as online home selling platforms, smart home tech, and apps in real estate trends 2022.
Here are some of the key new technology takeaways in the real estate industry:
- Artificial Intelligence plays a significant part in real estate, with management, design, and organization building as application areas.
- Real estate sellers and buyers use social media, online home selling platforms, smart home technology, and applications.
- Homes with updated smart technology have a higher chance of attracting new buyers.
- There is an expected demand increase from technology firms and startups servicing the industry as more people adopt these innovative tools.
- Companies prioritize making faster and more convenient transactions.
New technology will trend in 2022, and people might prefer houses with high-tech security features with the introduction of more innovative smart home techs.
4. Growth of Online Real Estate Services
Statistics say that 44% of buyers prefer to look at digital real estate property and home listings, and 12% search for information about home purchases. Therefore, online home selling, similar to ecommerce websites, may also see an increase in users for real estate trends now.
Here are some of the online real estate services available:
- Third-party buyers – companies like Opendoor buy your home and process repairs, inspections, and home sales efforts to resell it at a higher price.
- Virtual agents – companies like Redfin and other hybrid services handle transactions online to reduce the traditional commissions for agents.
- Mobile closings – you can buy or sell houses online with digital documentation, remote online notarization, and electronic signature applications.
Most buyers and sellers will have more convenient real estate in 2022 transactions so that neither will have to leave their houses. Because of the added convenience of digital space, people can do buying and selling transactions on their phones.
5. Low Mortgage Interest Rates
The mortgage interest rate average has recently been at an all-time low. According to statistics, the 15-year fixed-rate mortgage average interest rate decreased to 2.2% in January 2021, the lowest in 30 years. The rates were around 2.15% to 2.4% for the remainder of 2021.
Low mortgage interest rates mean that there will be a lower mortgage payment, and buyers are more likely to purchase homes than with higher mortgage interest rates.
The real estate market trends 2022 are shifting to benefit both sellers and buyers. There will be growing demand in the coming years as more people are looking for side hustles and businesses to earn passive income. Customers will be looking for various properties from short-term to long-term lease units.
The most common trend is the dependence on online presence, so you should take professional photos and edit them beautifully. You will be competing with other real estate companies and agents, so you may need specialists who know high-quality real estate image standards.