WHAT REAL ESTATE TRENDS TO LOOK FOR IN THE TRI-CITIES IN 2017
Real estate is a unique industry that is ever changing more so in the tri-city areas of Kennewick, Richland, and Pasco. In tri-cities, real estate is very favorable to buyers and sellers in the sense that buyers get to own and possess property in the coveted tri-cities while the sellers get to sell their assets at significant profits.
The real estate market in tri-city areas is always booming; there is always demand for property. This leads to very few listing and houses being sold as fast as the day they are listed. The speed in sales is one among many tri-city trends that the real estate industry should expect in 2017. Other trends include:
- More homes being built
There is a very large demand for houses in tri-cities, and this demand needs to be satisfied. More homes and properties are expected to be constructed. This new homes will take in the most current designs and everything that is vogue about real estate at the moment.
From previous trends where a controlled number of homes are built to reduce congestions in tri-cities, the year 2017 will prove different in that the cities will be expanded to accommodate more people, houses, and newer designs.
- Home designs
Most homes are built in the same design which people have now grown accustomed to. Newer and more experimental designs are expected to be adopted in 2017. Tri-cities currently have homes built in a traditional sense with the typical colors, floors, and designs.
2017, however, is expected to bring in newer designs like the adoption of more bold colors for the walls, roofs, and even furniture. Built in bars in the homes is also a trend that will be adopted for a majority houses.
Typically, homes built in tri-cities range from small homes for the young people who have no families, medium sized houses for medium families and large family homes. An increase in medium size homes is expected in 2017 because most families are now smaller as opposed to the past.
- Increase in home values
Scoring a home in a tri-city is hard enough as it is and also very expensive. This is expected to get even harder and more expensive in 2017. The increase in new homes that have more modern designs and materials will, in turn, mean that these homes will be expensive.
Mortgage rates will significantly increase, and those who feel the pinch most are the young people between the ages of 25-40 who are the biggest percentage of home buyers in tri-cities as they are looking to settle down in their dream homes.
- Building of environmentally friendly homes
Technology has schooled every aspect of our lives, and the real estate industry has not been left behind. Buyers are now more aware of what is right for their homes, and therefore more environmentally friendly homes are being built in 2017.
People are now looking for homes that are healthy for their families to live in and also want to be able to contribute to minimizing global warming in even the smallest ways. Environmentally friendly homes are now more popular and on demand which is why a rise in the construction of such homes is expected in 2017.