Residential Real Estate Trends
To obtain the current trends in residential real estate, including what residential property managers care about, as well as what residential tenants care about.
- Millennials are currently the most dominant buyers in the residential real estate market.
- Members of the millennial generation are finding stable jobs. Also, their household incomes are now as high as $88,200.
- Most of these millennials have a preference for middle-class and upper-middle-class houses. It is expected that they would account for 45% of the residential real estate market.
- Residential property managers in the United States have begun to realize "dramatic savings and operational improvements from smart-home property automation features".
- According to a survey conducted by Buildium, some of the top goals of US property managers in 2019 include growth, efficiency, and profitability.
- Property managers are faced with the challenge of attracting and retaining high-quality staff who would not take it personally when tenants express their frustrations.
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