While everything is still up in the air regarding the real estate market, these five predictions can provide some insight into what experts are forecasting for the future.
Buyers will upsize. While smaller apartments were expected to surge, being cooped up in apartments for months on end will lead to an increase in larger apartments or a shift to the suburbs.
Agents think that boutique buildings and townhouses will see an increase in interest.
Outdoor spaces and home offices will become a hot commodity. No surprise here. An increase in working from home will lead to more interest in dedicated workspaces in homes, as well as more outdoor living space.
Experts are also expecting to see a shift in the supply chain as well as an increase in construction prices.
“Home office space will also become a more standard offering. Stern notes that for multi-family projects in the planning stages, developers are reconsidering layouts to accommodate tenants working from home.”