Author: marketingqueue

January
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The hot interior trends of 2020

The hot interior trends of 2020

Do you have customers in need of fresh decorating strategies? Here are the home décor trends that are expected to make a big splash in 2020.1

  • Patina accents. This is being expressed with vintage furniture as well as decorative items‚ such as earthenware and ceramics.
  • A shade of blue. Classic blue (a shade of navy) is Pantone’s 2020 Color of the Year. It’s being used on kitchen islands or on walls to provide contrast to white trim.
  • Kitchen art. More homeowners are considering the kitchen when acquiring decorative artwork.
  • Curved sofas. In a nod to the ’60s and ’70s‚ there’s a renewed focus on curved lines.

Here’s to a great week.

1Juliana LaBianca‚ “Fifteen home décor trends you’re about to see everywhere in 2020‚” Good Housekeeping‚ last updated December 17‚ 2019.

January
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Boston-area buyers
especially benefiting

Purchasing a home near a commuter rail station is delivering a high return on investment for Boston-area buyers. Consider these numbers from the National Association of REALTORS® (NAR)1:

  • Boston was among seven regions analyzed by the NAR and the American Transportation Association. The others: Eugene‚ Ore.‚ Hartford‚ Los Angeles‚ Minneapolis-St. Paul‚ Phoenix‚ and Seattle. Each area had residential properties within a half mile of commuter rail‚ rapid rail‚ or bus options.
  • Between 2012 and 2016‚ the median sale price of homes in the Boston area near a commuter rail station jumped 24%.
  • The highest increase (144%) was found in the vicinity of Concord Station on the Fitchburg commuter rail line.

1“The estate mantra: Locate near public transportation‚” National Association of REALTORS®.

January
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Today’s parents are paying it forward

American homeowners are a giving bunch. More than one in five helped someone else buy a home—and more often than not‚ it was their children.1 Check out this data from co-investing firm Unison:

  • Seventy-nine percent of homeowning parents feel it’s important for their children to own a home. Of those with Millennial children‚ 18% have already provided financial aid for a home purchase.
  • There’s a “pay it forward” aspect involved‚ as 22% of today’s parents said they also received help from their parents when they entered the housing market.
  • This generosity may have a downside. One in 10 homeowners admitted that they have not saved enough for retirement due to the financial support of their adult children.

I hope information like this gives you better insight into today’s buying market.

1Steve Randall‚ “Bank of mom and dad is open for most homebuyers‚” Mortgage Professional America‚ last updated December 6‚ 2019.

September
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Is downsizing a thing of the past?

Don’t expect homeowners approaching retirement in the next decade to downsize. A survey by homebuilder Del Webb revealed the future plans for those ages 49–611:

  • Older Generation Xers and younger Baby Boomers in this range want to move to a house the same size or bigger than their current one.
  • One third of Generation X respondents said they would design their next home to accommodate aging parents.
  • Open floor plans are less favored: 34% desire more defined spaces‚ such as a dedicated dining room (preferred by 60% of Generation Xers and 48% of Boomers).

As always‚ my goal is to share information that is timely and relevant to your business.

1Barbara Ballinger‚ “Upcoming retirees aren’t looking to downsize‚” REALTOR® Magazine‚ last updated May 2‚ 2019.

April
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Key findings from the FHA’s annual report

As home prices rise, more buyers are looking to family for help with down payments.1  The Federal Housing Administration’s (FHA) annual report found2:

  • More than 26% of borrowers who used FHA programs had assistance from a relative to fund down payments (up from 22% in 2011).
  • The homeownership rate among those 35 and younger has fallen eight points to 35%. The reasons?  Higher home prices, interest rates, and student loan debt.
  • The number of FHA borrowers receiving down payment assistance from family, the government or another entity jumped from 30% to 39%.

As always, it is a pleasure staying in touch.

1Don Reisinger‚ “More homebuyers are turning to their parents for mortgage assistance‚” Fortune, last updated January 4‚ 2019.

2“2018 FHA Annual Report‚” HUD.gov.