TIP OF THE WEEK
Trends for the 2018 housing market
In the real estate market, springtime is go time. It’s the busiest time of the year for home sales, and with this year’s stable economy and low unemployment rate, the spring of 2018 has the potential to be especially active.
Every market is defined by its trends, and while each year is different, identifying these trends early on can be a useful tool for buyers, sellers and agents to navigate the upcoming market and secure the best long-term solution for themselves or their clients.
Generations on the move. The shift in home buying preferences is more than just an individual choice; it’s a generational one. Two of the nation’s largest generations are suddenly competing with one another in the real estate market. Millennials have come of age, so to speak, and they’re starting to abandon their condos in the city for single-family starter homes in the suburbs to raise their families. This shift has put them in direct competition with baby boomers, who are looking to downsize to something smaller that meets the needs of their new lifestyle.
Inventory is tightening. While the spring will be flush with buyers, it remains to be seen if sellers will follow suit. The fall of 2017 proved to be sluggish in regard to the number of homes available for sale; in fact, total housing inventory was down 13.4 percent in October 2017 compared to the same time the year before, according to the RE/MAX National Housing Report. The report also found that only three of the 53 metropolitan areas reported being in a buyer’s market or having an even balance.
Housing policies have shifted. The presidential election in November 2016 and local elections from this past fall both have implications on housing policy. Adjustments to tax rates, the growth or decline of suburban options and zoning ordinance changes may all impact the markets where consumers are shopping. To better understand how these changes may affect the housing search in a given area, potential homebuyers should contact a licensed real estate agent who understands the latest housing policies and how those policies will affect a potential home sale.
Technology is king. Like most other industries, real estate today is profoundly affected by the advent of technology. Homebuyers and sellers can go online or use apps to access information about a house or the market like never before, and virtual walk-throughs allow a buyer to enter a prospective home for the first time with few surprises. For buyers and sellers, technology has the potential to reward those who do their homework and make the most of digital options before deciding how to use their precious time.
— Brandpoint
TECH TALK
Microsoft launches new Bing search features
Microsoft recently announced it is partnering with the social media site Reddit to enhance the Bing search engine. The new Bing features will include displaying Reddit posts directly in its search results and users will have the ability to search for a specific subreddit. Along with searching for topics, the new Bing will also feature Reddit’s popular AMA question and answer threads.
THE LIST
According to BoxOfficeMojo.com, the top 10 grossing movies of 2017 are:
1. “Star Wars: The Last Jedi” ($533 million)
2. “Beauty and the Beast” ($504 million)
3. “Wonder Woman” ($412 million)
4. “Guardians of the Galaxy Vol. 2” ($389 million)
5. “Spider-Man: Homecoming” ($334 million)
6. “It” ($327 million)
7. “Thor: Ragnarok” ($311 million)
8. “Despicable Me 3” (264 million)
9. “Logan” ($226 million)
10. “Justice League” ($225 million)
NUMBER TO KNOW
$5 billion: Thanks
to 18 states and 19 cities, including the District of Columbia,
raising the statutory minimum wage, workers in those areas will see a
combined wage increase of more than $5 billion in 2018.
— More Content Now
