Urban sprawl is coming back big in 2018, or at least that’s what Zillow says due to limited building space in the nation’s urban areas. They also predict that current homeowners will remodel their homes instead of selling (making inventory even tighter) and new homes will be designed with both millennials and aging baby-boomers in mind.
Specifically they predict:
- Inventory shortages will drive the housing market:
- Builders will turn their focus to entry-level homes
- Millennials will move to the suburbs
- Many homeowners will remodel rather than sell:
- Baby Boomers and millennials will drive home design
- Homes prices will continue to grow, but at a slower pace
“…We’re on the other side of the housing recovery, and the real estate market looks quite different than it did 15 or even five years ago. We have a huge generation entering the market. They really want to be homeowners, and they’re faced with an inventory crisis that leaves them with few options….”
Click here to read the fill story on Zillow.com.
