This article will investigate the top trends expected to influence the real estate sector in 2023 and beyond. Before we begin, know that one of the underlying causes for these shifts is a trend already occurring before 2020: homeowners are moving out of big cities and into the suburbs. Nevertheless, during the following 18 to 24 months, you should keep an eye on some of these significant trends.

(1) House Hunting Goes Digital

The pandemic hurried up the digitalization process in every industry, and the market for real estate is not an exception to this rule. As a result of the COVID-19 pandemic, some buyers in the year 2020 bought houses without ever having set foot inside them. Due to the many virtual capabilities, such as 3D tours, virtual staging, and drone videos, many people could virtually visit the site.

(2) Sun Belt’s Popularity Continues to Rise

The Sun Belt is becoming more popular as a relocation option for those leaving big cities in the United States. Due to the reduced taxes and cheaper property rates, the area is becoming progressively more appealing to young buyers. For those who don’t know, the pandemic contributed to the region’s already-rising profile and is likely to continue unabated for the foreseeable future.

(3) Single-Family Housing Demands Create Shortages

The trend of individuals leaving big cities and moving to the suburbs is driving up the demand for single-family houses. Additionally, the demand caused by the pandemic is made even more significant by another development: the beginning of the home-owning phase of life for millennials. Despite their endurance in 2022, it is unknown how long these circumstances will last this year and beyond.

(4) Home Prices Continue to Rise

The present trends in real estate are intimately intertwined with one another. The prices of single-family houses skyrocketed in 2020 due to the rising demand for such homes and the shrinking supply. Now it is expected that these prices will continue to be elevated during 2023 and beyond. As a result, the rise in a home’s equity coincides with an increase in its market value.

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