Since 2020 the real estate market has been a roller coaster of rapidly rising prices, constantly evolving mortgage rates, and large swaths of homeowners buying and selling at head-spinning rates. But in 2022, as the markets have leveled out, one clear trend that is sure to continue into 2023 has emerged: the desire for more space both indoors and outdoors.
The majority of buyers are interested in a new living space that will accommodate their remote work schedule. In addition, the appeal of outdoor living space has many buyers looking for a space they can renovate, update, and decorate. While the majority of buyers searching for more outdoor space are those in the Gen X age range, almost every age group has some interest in having their own yard or outdoor space.
There is no doubt that even as 2022 comes to an end, the desire for a uniquely personal home and outdoor space will continue to be a driving force behind home buying trends.
Infographic Source: https://www.homelight.com/blog/which-renovations-increase-home-value/