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Last Updated: Sep 2009
Last Updated: Sep 2009
The residential real estate brokerage industry is approximately half way through a 10 -15 year industry transition. This major shift is creating a fundamental change in the way homes are being bought and sold and the role the real estate agents are playing therein.
Real estate trends is a generic term used to describe any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This can be as a result of the economy, a change in mortgage rates, or other business reasons.
A real estate trend is the fundamental strategic reason that causes the change, and it is usually a concept, a belief, a philosophy, or an event (and not merely the result of a new product or service). Sometimes a real estate trend evolves to meet a specific need, while others evolve when new products or solutions are launched; at other times, a trend from another industry spills over into the real estate industry and is adopted.
Therfore, a trend must have substance and be based on fact; over time, it will cause a pattern of change. Monitoring changes and tracking trends is a not an exact science and can be very hard to predict.
A real estate trend is the fundamental strategic reason that causes the change, and it is usually a concept, a belief, a philosophy, or an event (and not merely the result of a new product or service). Sometimes a real estate trend evolves to meet a specific need, while others evolve when new products or solutions are launched; at other times, a trend from another industry spills over into the real estate industry and is adopted.
Therfore, a trend must have substance and be based on fact; over time, it will cause a pattern of change. Monitoring changes and tracking trends is a not an exact science and can be very hard to predict.
