What’s Trending in The Real Estate Market May 2024

Have you wondered what the latest real estate trends are in the marketplace? Hi, I am Kirsta Mashore with eXp Realty and The Mashore Group. I think we can all agree that 2024 has been off to a great start in the housing industry compared to 2023. We have more inventory on the market for buyers and rates have dipped down a bit. So what are some of the trends we are seeing in the market? One of the biggest trends is Multi-Generational Living. According to the National Association of Realtors, more buyers are opting in to living with generations of family. Two of the top reasons for this type of purchase has to do with aging parents. Twenty seven percent of buyers chose multi generation living to take care of their parents and nineteen percent made this move to spend more time with them. Another big factor in buying a multi generational home is sharing costs like mortgage payments and utilities to make owning a home more affordable. This can be especially helpful to first time home buyers who struggle with overall affordability. Of course this lifestyle may not be for everyone and it is important to make sure this is something you really want to do as a family before making an offer. Looking for the perfect multi-generational home is also a bit trickier than finding a regular house. You have more people which means there are more needs to think about. Having the right agent by your side to help navigate this process is key to a successful close.

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