The real estate market is always changing, but staying on track of real estate trends can help people to make wise investments. These five huge shifts in the real estate market are likely to be the biggest trends of 2019.

1. Longterm Renting

Only about half as many millennial are able to afford to own a home like boomers could a few decades ago. Even those who can afford to buy a home in the suburb often prefer to rent because it allows for more flexibility and proximity to work. More and more young professionals are instead choosing to see renting as a long-term housing solution.

2. Newly Constructed Luxury Rentals

The increased number of upper and middle-class rentals is leading to investors constructing luxury apartments with fancy appliances and amenities. These luxury rentals appeal to well-educated workers with money to spare and are often situated in city hubs. There is especially a growing interest in this in mid-sized, affordable cities like Charlotte, Houston, and Atlanta.

3. Single-Unit Rentals

Due to the increased interest in renting, there is more of a demand for single unit rental homes. This shift is good for investors because directly owning a home and renting it out to people often allows for higher profit potential. Single-family rentals do not usually shift with the stock market, making them a way to diversify a portfolio.

4. Multifamily Housing

Many people are starting to get creative with how they consider real estate. There are fewer people looking to strike out on their own and get single-family homes now. Instead, there is a big spike in multigenerational housing with summer homes, garage lofts, and mother-in-law suites accommodating several families in a single home. More adult children and elderly parents are living together, and there is also an increase in people who rent out bedrooms or have roommates even once they start a family.

5. More Joint Ventures

Investors can expect to see a lot of large capital partners partnering up with REITs to launch real estate ventures. This is happening because REITs had a very strong performance last year, and large capital partners provide more assets and management that can be used to advance this investment method.