Residential

Residential Real Estate encompasses single-family, multi-family, affordable, student housing and other niche residences. Multi-family real estate is a building or group of buildings which houses multiple persons or families in separate units while single-family housing refers to for-sale or rental individual residential housing units built for one family to own and occupy, either attached or detached. Affordable Housing is government subsidized housing for low income individuals and families, funded by the US Department of Housing and Urban Development, or HUD, and where the developer receives tax incentives for this form of developments. Residential real estate is as varied as the demographics, lifestyle choices, and economic status of a market, and has shown emerging innovative responses to calls for greater diversity of housing options in recent years.

Looking to the future

Residential real estate will always remain a essential aspect of the real estate industry. Changes in culture and lifestyles will create the demand for the different types of residential real estate to suit the market. In growing cities of increasing population and work opportunities we will see growth of residential real estate to meet the needs of the people. There will also be shifting trends, such as post-2008 preference for rentals over homeownership among some, which impacts the types of residential real estate coming into the market. Construction and development costs will also control the supply of new residential real estate in the market. Successful residential real estate players will weigh the sustainability of trends in housing preference versus the traditional American Dream ethic of single-family detached home ownership.