How the real estate field in America is being transformed after the pandemic

In the United States, the real estate boom fed by the pandemic is hardly over: while demand remains high and supply is low, the possibility of remote work allows American professionals to move out of the city

Below we summarize some predictions for the future of the field and the pandemic's impact in America

Overall, the US real estate market can be considered to be in excellent health. There is good capacity for absorbing the supply, tax laws encourage investments, and real estate purchasing costs fell drastically in 2020, leading to an increase in demand and a hike in real estate prices that according to CoreLogic have now risen by 10%.

Florida is the US state that has seen the biggest boom in purchasers and renters who have moved from other US states that had severe restrictions due to the health emergency. This wave of new residents led to a growing demand not just for residential properties but also for places to spend time, creating a virtuous cycle of growth and prosperity.

1. The whole process for buying a house in America will probably go digital
   A real estate transaction in the US currently takes an average of 40 days to complete. During this period, the buyerís lending institution, the company that owns the property and the county submit the documents needed to complete the home buying process.
   
   In the future, almost all aspects of American real estate procedures will go digital and will be done on a single platform to accelerate the sales process.
   
    
2. People will remain a vital part of the US real estate process
   A real estate field focused on technology does not mean that a real estate agentís job will become obsolete in America. In fact, we believe that people will continue to drive the real estate process in the USA: agents will play more of a project management role and will concentrate on activities such as marketing, virtual site inspections and list creation. Many Americans still want to see houses in person: even if the agents must move the process forward, other parts of the transaction, such as negotiations, sales documents, disclosure documents, titles and mortgages, will go digital.

We think that this real estate trend in the US will stay hot in the future: there is a desire for a better lifestyle at a lower price

Even if this trend slows down, the current real estate market is destined to last

Remote working has made more professionals value their home environment, expanding the chances to reside in spaces different from those of the past. Americans will use their homes more than they did in the past, and will see them as a place where they work, live and enjoy leisure time. We predict that the future will see property owners require more space, and multiple ownership will also become more common.