Residential Real Estate Trends

Goals

To obtain the current trends in residential real estate, including what residential property managers care about, as well as what residential tenants care about.

Early Findings

  • 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.

Proposed next steps:

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