Real estate markets across the country have experienced dramatic changes over the past year. As the global COVID pandemic dominated the headlines and constrained most people’s daily lives, there was a shift in many areas of our lives. Following sharp drops in activity during the 2020 quarantines, and supported by massive legislative, regulatory and monetary initiatives, housing markets led the rebound. Consequently, markets saw a full recovery after twelve months.
For buyers, the dramatic changes of the past year have resulted in shifting home trends or preferences, with versatility, space and flexibility in living arrangements propelling housing choices. In addition, in the wake of unprecedented quarantines, business closures and social distancing, needs changed. Families had extended family, pets, home offices and connectivity play a more dominant role in home buying decisions.
Corken + Company is aware of these shifting priorities for buyers. Our agents are well versed in providing the homes that offer a variety of needs. However, the market continues to shift. As the Denver area and homebuyers prioritize different elements in their home search, we are here to help.
Here is a list of just some of the things buyers are searching for:
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More space, expanding households and low interest rates drive purchases
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Majority of buyers consider extended family in 2021 home buying decision
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Close to 60% of buyers seek a home priced at $350,000 and below
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Buyers plan to leverage technology and extra money to secure a home
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3 bedrooms, 2.5 bathrooms top list of desired home layouts
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Garages, updated kitchens and quiet locations are the most important home features
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62% of buyers plan to move away from their current city or town
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Affordability Is the principal reason buyers plan to move
The number one reason most new buyers want to own a home is due to more space. For this reason, we are seeing buyers flooding into the Denver area. Many people are moving to locations that provide more square footage for less money. Remember, “Real Estate Without Limits” is what we believe in. As the market heats up and home trends change, buyers are searching for that specific property we will go above and beyond to find you that perfect home! Contact us today
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