Housing trends are always changing, however currently with an aging population it is clear to see that baby boomers will play a vital part of the future of the housing market in Malibu and the nation.
Baby boomers are looking for low maintenance homes in mixed use, active lifestyle communities – Malibu is definitely an active lifestyle community! For sellers, it is important to plan for this change – as we wrote, you can as a seller prepare for a future housing market.
There is also another trend which is not so widely reported – that of the aging Generation Y – This generation is larger than the baby boomers, making up 68 million people. This tech savvy group is looking for walkable communities which are also environmentally conscious – they want Green Real Estate!
Also, the Urban Land Institute predicts there will be two major changes beginning in this new decade in our country that will affect the housing market.
The first is that home appreciation will slow. The report predicts annual appreciation of 1 percent to 2 percent. The second change is that the record-high U.S. homeownership rate will decline from 69 percent to 62 percent.
If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.
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Judy Kunisaki – CA DRE license 00963582
