2020 will surely be a challenging year for real estate – if you are looking at homes for sale in Thornton CO 80602 during the coming year, here are some trends to expect:
- Lower mortgage rates and more buying power – with the economy becoming stronger each day and with mortgage loan terms becoming increasingly favorable, more people will decide to invest into property, which is likely to drive prices upwards;
- Rentals becoming more sought for – higher real estate prices will make it more difficult for first-time home buyers to get a home, therefore many people will look for rental opportunities, rather than for real estate available to buy;
- Interest will increase for smaller homes – condos and apartments are likely to become more popular, being a more affordable alternative to single family homes;
- Growing interest for second-tier cities – another effect of increasing real estate prices is the move away from popular metropolitan areas and downtown real estate to second-tier cities. The trend is likely to determine the choices not only in the residential segment, but in the commercial segment and in industrial real estate as well;
- Interest for new technologies – smart homes and other, state-of-the-art technologies will be very much in demand with new construction and so are sustainable building solutions.