2021 Real Estate Market Trends to Watch near Lexington, KY
One of the best industries to enter in 2021 is real estate. In fact, it is almost always a good idea to choose real estate as a career because of the ability to leverage your skills in the industry. Many times, it gets difficult to decide exactly where to get a real estate license and how it all works, which is why we are happy you are here because you have found that exact place. We offer a large variety of real estate education based on what you are looking for, so feel free to reach out at any time to ask us any questions that you may have. We can’t wait to help you on your way into this new career!
We are here to help you on your real estate journey at HomeServices Real Estate Academy. It is always important to stay on top of real estate trends when you are in the industry, which is why we are going to summarize some market trends to watch in 2021.
Housing Shortage
The overarching housing shortage in the US is one of the most prevalent trends of the real estate market. There aren’t enough houses available for those who have recently decided to move and are ready to buy instead of rent. The inventory simply isn’t keeping up with demand. Therefore, it is a particularly good time to get into real estate. Although fewer sales may occur, the prices of houses are much higher in Lexington, KY than they have been, which means the return on your investment in your home when sold to the right customer is sure to pay off. It is a scarce market and it is working in favor of sellers!
Less Commercial Space Needed
As the Covid-19 Pandemic has taken its toll, businesses have no doubt been affected. Because people are wary of gathering in small, indoor, public spaces, retail and commercial buildings have decreased in demand. Many people are now working from home and shop online, so the need for these retail buildings has decreased. Many people spend time in large, outdoor spaces instead of inside in a public malls and other indoor gathering spaces.
People Exiting Cities
One other trend that has occurred throughout 2021 is people moving from cities into the suburbs. Many jobs are simply flexible enough to no longer need their employees to live close, and many families have taken advantage of the perfect time to move into houses in much slower neighborhoods. Suburban living will likely continue to increase for years to come as work flexibility continues. This is a great option for many Americans, including those in our local communities.
Contact Us
At HomeServices Real Estate Academy, we put our students first. We are always providing updated market and industry information to you so you can make the best decisions as you enter the real estate world. If you have any questions, we are here to help. If you live near Lexington, Georgetown, Versailles, Paris, Nicholasville, Richmond, Harrodsburg, Frankfort, or Winchester, call us or visit our Contact Us page online to learn more about our real estate school. We can’t wait to hear from you!
