5 Trends That Will Dominate Real Estate Development in 2022
The real estate industry is dynamic and always changing. With investors clamoring for new markets, the next decade will bring us many exciting trends.
In this article, Moe Mathews, a real estate developer, entrepreneur, and consultant will outline five trends that will dominate real estate development in 2022. These trends may seem niche right now, but they are all connected in one way or another — and they are set to have a lasting impact on the industry.
House Hunting Goes Digital
Real estate is one of the most tangible industries — but over the last few years, it’s felt like digitalization has taken hold. Data is key to many industries, but it’s especially relevant to real estate. According to Moe Mathews, analyzing listings and creating customized marketing campaigns will be more effective. In the future, real estate agents will be able to access more data than ever before, which will help them deliver a personalized experience for their clients. Technology is also changing the way people shop for real estate. In particular, the introduction of mobile apps and digital property listings has completely transformed how people search for properties. Apps like VVR, which uses artificial intelligence to analyze property data, will become even more popular in the next few years. This will make it easier for buyers and sellers to easily search for properties and get more information about them, including price and availability.
People Move From Cities To The Suburbs
Urban living has been on the decline for some time, partly due to rising costs in cities and a growing desire for greener living. But the shift to the suburbs is transforming in other ways, too. Moe Mathews points out that people are increasingly choosing to live in smaller cities, creating demand for new housing options. This new demand is also spurring new developments in the suburbs, resulting in a hybrid urban-suburban landscape. As more people look to the suburbs as a greener alternative to living in cities, more suburban communities will see increased development and new housing options. One trend that will help meet this demand is a shift to more compact communities. Packed cities are in danger of being outpaced by the more compact communities of the future. As more people move to the suburbs, they’ll be more open to communities that feel more like neighborhoods. This trend will help people connect with the community and make their homes feel more like homes.
Single-Family Housing Demand Creates Shortages
Single-family housing is the foundation of the American dream — but the dream feels ever more elusive, as high prices and a growing shortage have hit new extremes. While the shortage of single-family homes has always been high, it’s reached a new level, with some markets experiencing shortages of more than 90 percent. Still, the high prices people pay for new homes are also transforming this shortage into an opportunity. When there’s a shortage, it’s more likely that existing properties are going to be re-leased. Some are likely to be renovated, with careful upgrades in order to re-enter the market. In Moe Mathews’ opinion, this renovation trend is likely to continue, and it could lead to a new class of luxury homes.
Bottom line
The real estate industry is always changing, and the next decade will bring many exciting trends. These five trends shared by Moe Mathews ( shared on Facebook) will dominate real estate development in 2022.
Originally published at http://moemathews.wordpress.com on August 8, 2022.