The past year has taken the real estate industry into somehow confusing scenes with the first few months that likely took home prices to lows and with the last quarter directed towards the highs. Taking cue from what transpired inQ4 of 2014, it is predicted that 2015 will be more fruitful to the industry. Home values will continue to rise. Here are the top reasons why such trend is seen on a continuation.
Surge of millennials as primary home buyers
The millennials whose ages today are from 22 to 24 have risen up on top of the home buyer ranks. With mixed characteristics ranging from picky to the easily contented, their will to buy homes have certainly showed strength. Their presence will be most likely felt in communities and neighborhoods where homes for sale are affordable to their financial capabilities. Calgary Historical Homes
Home buyers will prefer homes on difficult locations
With living spaces becoming limited in many areas such as urbanized communities, home buyers are now opting for houses built on the so-called difficult locations. Some will look for dwellings on mountain tops, and others on forested areas. Some fractions will also walk away from traditional home designs and settle for modern and upbeat appearances. With customizations done for home owners-to-be, home values are expected to go up.
More home buyers will also demand for green houses
Living in green homes have been recognized by many governments. The energy efficiency that come as its primary benefit is what causes the new huge demand in houses. And considering that being green is in, developers are cashing out for new construction homes to be more eco-friendly. Renovations and improvements are also geared towards making homes more environment-friendly. These changes cause home values to experience slow uptick. With the trend as a continuing fact this 2015, we will see home prices to soar even higher in the coming months.
Affordability is seen on a decline
While many home buyers want to have a house under such affordable rates, home prices are expected to flip away from the usual affordable ranges. The changes in what home buyers want to be included in their spaces are also causing surges in values too. There are also home buyers who are also looking for homes that are in the luxury ranges.