Robust real estate market is expected to continue in 2018
January 22, 2018
Multiple Listing Service of Hilton Head Island (HHIMLS) statistics show the real estate market outlook is strong for 2018. HHIMLS facilitates $3 billion in real estate transactions annually. It helps the home buying and selling process by keeping inventory of homes for sale, real-time statistics, and tracking trends.
Home prices are expected to rise in 2018. That’s because mortgage demand remains strong which, in turn, is because jobs continue to grow. There is also a housing shortage as boomers continue to stay in their homes and Generation Z – the generation proceeding Millennials – looks to buy. Generation Z tends to like more structure and personal space than the previous generation and seems to be willing to look into buying a home sooner.
“As inventories decline and prices go up, real estate is a solid investment in today’s market,“ said Colette Stevenson, chief executive officer of HHIMLS. “Now is the time to start looking for a home. A lot of people hit the market in the spring, pulling even more homes off the market.”
Some of the top home trends in the upcoming year will be tech readiness, connectivity, ease of doing business, and being green. Smart home technology that allows owners to control their thermostat, lights, and security systems is becoming more popular. Good wi-fi and being able to work from home is becoming a norm. And, green homes are growing in demand. Energy-efficient appliances, solar panels, and water saving faucets are a start. But more homeowners are also looking for building materials that are chemical-free and non-toxic or recycled and locally sourced materials.
“Being environmentally conscious is as important to some buyers as the latest technology,” said Stevenson.
HHIMLS agents are educated on the trends in real estate. You can find an agent at hiltonheadmls.com.
About Hilton Head Island Multiple Listing Service
Multiple Listing Service of Hilton Head Island (HHIMLS) is a premier multiple listing service in South Carolina, established in 1976. A proud member of the Council of Multiple Listing Services, it is the listing platform facilitating more than $3 billion in annual real estate transactions. Headquartered on Hilton Head Island, it serves all of South Carolina. HHIMLS is vital to real estate professionals’ and to consumers’ success by maintaining the most dependable and powerful data in the marketplace, updated in real time. More information about HHIMLS is available at hiltonheadmls.com and (843) 785-9696.
