Recent Changes in Real Estate Laws and Their Impact for 2024 in the USA.

Staying updated is crucial in our industry. Being one step ahead ensures the trust of our clients and the respect of our colleagues.

Much has been said about how home sales have decreased and prices have increased in equal measure. Others comment on the rise in interest rates and how this affects loans. Or the most tricky question of all, is 2024 a good year to sell or buy homes?

For 2024, realtors in the United States must be aware of recent changes in real estate laws and their impact on the market. Here are some relevant aspects:

Decline in interest rates

Interest rates are expected to decrease slightly in 2024, which could reactivate demand for buying and renting.

The decrease in interest rates may have a positive impact on the US real estate sector in 2024. A decrease in mortgage rates can make loans more affordable for homebuyers, which could increase demand for properties and stimulate the real estate market.

Additionally, a decrease in interest rates may lead current homeowners to refinance their mortgages, which could free up capital to invest in additional properties or make improvements to existing properties. However, the decline in interest rates is not the only factor affecting the real estate market, and other factors such as supply and demand, sustainability and energy efficiency, digital transformation, and stabilization of housing prices, can also have a significant impact on the real estate market in 2024.

Sustainability and energy efficiency

Sustainability will consolidate as a key factor in real estate decision-making, and the demand for eco-efficient properties will increase.

Energy efficiency and sustainability have had a significant impact on the real estate sector in the United States. Real estate associations and the government are working to promote energy efficiency and sustainable practices in the sector, which has generated economic and environmental benefits. Some of the changes and trends in the real estate sector in the United States regarding energy efficiency include:

Cost savings

Eco-efficient properties can save up to 30% on energy costs compared to non-eco-efficient properties.

Increased property value

Sustainable buildings experience an increase in their market value, as buyers prioritize energy efficiency and environmental responsibility.

Awareness creation

Real estate associations and the government are working to raise awareness about energy efficiency and sustainable practices in the sector.

Fiscal and financial incentives

Governments and financial agencies offer incentives to promote energy efficiency and sustainable practices in the sector.

Creation of standards and certifications

Organizations such as LEED and Energy Star establish standards and certifications for eco-efficient properties, which helps owners and tenants identify and choose sustainable properties.

These trends and changes in the real estate sector in the United States are expected to continue in the future, as energy efficiency and sustainability become key factors in real estate decision-making.

Labor flexibility and changes in housing demand

The pandemic has transformed the way we work, and the real estate market will be affected by these changes.

Impact of technology on user experience

Digital transformation will continue to redefine how we interact with the world, and the real estate sector will be affected by these changes.

The impact of technology on the real estate sector in the United States is reflected in various aspects, such as user experience, operational efficiency, and decision-making. Some of the specific changes expected include:

Enhanced user experience

The use of technologies such as virtual and augmented reality allows users to visualize properties remotely, improving the search and selection experience for real estate.

Operational efficiency

The adoption of online platforms for property search and data analysis for real estate decision-making has improved operational efficiency in the sector, allowing users to access detailed information and perform analysis for informed decisions.

Sustainability and green building

Technology is being used to promote sustainability and green building in the real estate sector, including reducing the environmental impact of buildings and promoting more responsible practices.

These changes reflect the growing importance of technology in the real estate sector, not only to improve the user experience but also to drive operational efficiency and promote more sustainable practices.