Industry Snapshot: Urban Land Institute’s 2020 Real Estate Predictions
September 26, 2019
Industry Snapshot is our monthly round-up of top news stories related to the residential home building industry.
This month, the Urban Land Institute released their annual Emerging Trends report that sheds more light on a possible recession — suggesting a sustained slow down versus a sharp drop. The report also dives into the top markets for 2020 and, unsurprisingly, they are generally large to mid-sized metros. In interior design trends, we also look at how flagstone is moving from the patio to the living room and how the modern farmhouse remains a popular style.
Ten trends that will shape real estate in 2020. The Urban Land Institute released their annual Emerging Trends report, which indicates that the real estate industry is likely in a for a soft landing, not a sudden crash. The report also concludes that industry insiders believe the housing sector is still in great shape despite recession fears. [Curbed]
Starts and permits jumped in August. Housing starts were at a seasonally adjusted rate of 1.364 million in August, a 12.3 percent increase from July’s estimate of 1.215 million. It’s also 6.6 percent above the August 2018 rate of 1.279 million. [Builder]
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Top real estate markets for 2020 include Austin and Seattle. The Urban Land Institute’s top 10 markets for 2020 include Austin, Nashville, Boston, Orlando and more. Austin sits in the number one spot thanks to its deep pool of talent, unique and popular lifestyle and an ambitious commitment to business and real estate expansion. [Housing Wire]
Funky flagstone makes it way inside. Flagstone flooring is starting to trend inside, especially in transitional rooms where the stone can make its way from a patio to an open living space. The look has been popular in lighter shades, mixed with different textures. [Architectural Digest]
Majority of buyers found their homes on their phone. The National Association of Realtors found that about three-quarters of home buyers reported finding their homes through their smartphones. The typical buyer contacted an agent and visited a median of 10 homes over 10 weeks before purchasing. [Housing Wire]
The modern farmhouse and colorful cabinets are still trending. An Illinois builder is providing insight on the trends their buyers are drawn to including the modern farmhouse look with a front porch, pops of color in the kitchen and an indoor and outdoor connection. [Daily Herald]