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Housing Trends Moving in the Right Direction!

Housing Trends

Housing Trends Moving in the Right Direction!

 

Multiple demographic trends are expected to make a positive impact on housing. Here are the relevant statistics1:
  • Between 13.9 – 15.9 million new households will be formed by 2024 (the next decade will be one of the strongest housing markets in US history)
  • Baby Boomers will drive growth (12.3 – 12.9 million more households will be of ages 60 and over by 2024)
  • There will be 5.5 – 5.7 million more Hispanic households
  • The home ownership rate will rebound to between 65-66

1Mortgage Banking Association’s “Housing Demand: Demographics and the Numbers Behind the Coming Multi-Million Increase in Households,” reference info.

While we are based in Virginia Beach we sell property all over Coastal Virginia. Our Coastal Virginia cities include Virginia Beach, Norfolk, Chesapeake, Portsmouth, Suffolk, Hampton, and Newport News. You can find us working with clients in the Williamsburg area, Gloucester on up to the Northern Neck and over to the Eastern Shore. Coastal Virginia real estate is highly sought after because Coastal Virginia has miles of waterfront properties and beaches, all of which contribute to the diversity and stability of the region's economy. There are always ocean front, river front, lake front and harbor front listings available.

We are successful, high-energy REALTORS® who focus on integrity and excellent service. Give us a call and enjoy using our website. We look forward to Guiding Your Next Move.