As we begin 2014, what are some trends that we may see in the housing industry? There are several and here a few that could help shape the landscape.

Millennials are being observed in terms of where they are going and what they are doing. Their financial decisions play a key role in economic markets, including housing. One major trend of millennial is that they are not buying as many homes as previous generations at their age.

Another trend is that recovery of the real estate market is heavily dependent on job growth and recovering from high unemployment numbers. Some experts say that the job market may not fully recover for another 2 years so it is not likely to change quickly.

During the economic downturn, apartments were in high demand. In many cases it was due to former homeowners now becoming renters and multi family situations on the rise as well. However, there should be a slowdown in the building of multifamily buildings and apartments as the demand has diminished over time.

Condo development is still in a recovery period and has not bounced back as well as the single family home market. With that being said, the willingness to build condos is not there. One trend is the construction of rental apartment buildings that can be developed into condos if demand is there and is a sound financial decision.

Another trend is the development of what is known as shadow banking. This is somewhat like traditional bank lending but instead it is done outside of banks and is not subject to banking regulations. For those borrowing in this manner, there are several options including wealthy individuals and family offices offering financing.

Keeping an eye on housing trends will allow for smarter decision making in the housing market so make sure to keep an eye on these trends all through 2014.