2024 Trends Report

Trends Report

2024 Trends Report

The future might be here faster than we think — but we’re taking measured steps to get there.

Everywhere we look, the innovation and advancements of 2024 are met with an intentional attempt to slow down, practice mindfulness, and enjoy the moment. In an age where mental health is top of mind for the majority of the population, we’re beginning to turn a corner in the race to be biggest, fastest, and first. As our team began to dig into the trends emerging in digital marketing, brand and creative work, and the real estate industry as a whole, it was evident that, despite the accessibility of artificial intelligence (AI), humans crave connection and authenticity more than ever before.

As marketers, we look to the Pantone Color of the Year — typically released in early December — to set the tone for the upcoming year’s mood and trends. This year’s selection, Peach Fuzz , is a calming, velvety shade that evokes community and belonging; it “captures our desire to nurture ourselves and others” and “enriches mind, body, and soul.” We see this same desire for togetherness in the rise of authentic design and imagery (pages 32–33) , hybrid workspaces (pages 60–61) , and unique, communal living experiences that break the traditional single-family mold (pages 70–71) . In the digital space, we’re demanding more firsthand experiences (pages 18–19) and looking to our peers for answers rather than generic search engines (pages 16–17)

2023 brought us ChatGPT and a wave of excitement surrounding the possibilities of AI. As we take that groundbreaking technology into a

new year, marketers and real estate veterans alike are finding new ways to streamline and simplify their processes, including adding a new level of customization into marketing efforts (pages 12–13) and leveraging chatbot technology to manage resident communication (pages 22–23) By leveraging AI, proptech is able to streamline workflows and enable intelligent, data-driven decision-making (pages 54–55) . Despite all this, the focus is equally on the ethics and transparency of this technology — from the way we collect user data (pages 14–15) to the content we create (pages 26–27)

Perhaps this blurring of the line between reality and technology is the cause for a resurgence of things that cause us to feel. In the creative space, we’re seeing a reimagining of styles, branding, and settings that evoke emotions of nostalgia (pages 30–31) , wonder, and joy (pages 34–35) , just to name a few. The multifamily market demands a focus on resident experiences that push the boundaries of what’s expected (pages 52–53) Alongside a slowdown in rent growth, we’re also decreasing the rate at which we consume and produce, instead leaning toward sustainable design practices and the adaptive reuse of existing structures (pages 56–57)

Throughout this trend report, you will see a contrast between innovation and intentionality. Between the new and the nostalgic. Somewhere between these two ends of the spectrum, trends emerge that will set the tone for marketing, branding, and real estate in 2024 — and help us set a framework for how we understand (and add to) the ever-changing world around us.

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This report is a compilation of trends pulled from a variety of credible, market-related sources. The report focuses on 2024 observations and predictions in the spaces of digital marketing, branding and creative, as well as the real estate industry as a whole.

Trends list curated and edited by Allison Diep, Amber Pasquarelli, Haley Drinkwater, and Lauren Goodman.

A publication of Good Mood Media™. All Rights Reserved. Copyright 2024.

Digital Trends

Two major topics dominating the digital trends landscape are AI and concerns around privacy and trust. In a time when content generation and information collection is more prominent than ever, how do we find the “human” in it all?

THOUGHTS FROM OUR TEAM

Melissa Cornine Vice President of Client Strategy

I am already seeing the use of AI-generated video content for apartment marketing. It provides the ability to efficiently showcase property features, amenities, and the overall living experience, just by crawling a website. Through personalization and data-driven insights, AI can tailor videos to a specific target demographic, increasing engagement and helping prospects visualize their ideal living environment. This can now be done at a fraction of cost and resources.

Photo by Emiliano Vittoriosi on Unsplas h

AI-Powered Advertising

BRANDS ARE IN PURSUIT OF AI-POWERED MARKETING AND CONTENT GENERATION TOOLS THAT ARE EFFICIENT, COST-EFFECTIVE, AND CUSTOMIZABLE, AIMING TO BOOST ADVERTISING ROI WITHOUT COMPROMISING DECISION-MAKING CONTROL.

“Brands are often tasked with creating marketing campaigns with heavily limited time and budgets, leading to less-thanideal outcomes in order to deliver on time. These brands desire more efficient services in each aspect, as increasing the ROI on advertising is a top priority for marketing departments. However, these brands cannot sacrifice decision-making control, margin of error, or quality, creating a demand for lowcost, customizable, quick marketing services powered by AI.

“Startups are now combining multiple artificial intelligence (AI)-based services into comprehensive platforms that generate custom advertisements. These use image, video, and text-generation to create entire marketing campaigns, streamlining the process for clients, and saving on time and budget.”

Trend Hunter 2024 Report (pg. 46)

“Integrating AI with marketing transforms how companies analyze data, personalize customer experiences and optimize campaigns. For instance, AI-powered chatbots and messaging apps are revolutionizing customer interactions by providing personalized experiences and instant solutions, which helps build more authentic customer connections.”

Forbes

“The question is no longer whether AI tools are intelligent. Today the question is more about how to deploy these cognitive tools in ways that provide real business impact.”

Deloitte Tech Trends 2024 (pg. 17)

Streaming and Short-Form Video

EFFECTIVE UTILIZATION OF SHORT-FORM VIDEOS, LIVESTREAMING, AND INTERACTIVE, SHOPPABLE CONTENT GIVES BRANDS A COMPETITIVE ADVANTAGE, ESPECIALLY AS VERTICAL VIDEO BECOMES GEN Z’S PREFERRED COMMUNICATION METHOD.

“Short-form videos, live streaming and interactive content are increasingly important in video marketing. Companies that effectively utilize these trends will have a competitive edge and will be able to communicate their brand messages engagingly and dynamically.”

Forbes

“From FaceTime to TikTok, vertical video has emerged as Gen Z’s preferred method of communication. As a result, video marketing has solidified its foothold in the marketing space, a trend that will continue into 2024. Short-form video content continued to boom on TikTok in 2023. Now, other platforms have begun incorporating interactive video features, such as shoppable videos, real-time live streams, and AR integrations which according to Threekit, are 200% more engaging as they deliver double the levels of engagement compared to their non-AR equivalents.”

AdAge 5 Predictions for Marketing

“Video marketing has solidified its position as a powerful channel for audience engagement, and this trend is expected to flourish in 2024. Marketers will increasingly utilize video to narrate captivating brand stories, showcase products, and forge deeper connections with their target audience. Live streaming will experience heightened prominence, enabling real-time interaction and authenticity, as brands host live events, product launches, and behindthe-scenes experiences to deliver immersive and compelling content.”

Association of National Advertiser

THOUGHTS FROM OUR TEAM

In the ever-evolving landscape of video marketing, embracing the power of short-form videos, livestreaming, and interactive content isn’t just a trend; it’s a necessity. As vertical video gains momentum as a preferred communication method, it’s imperative for brands to seize the opportunity to authentically connect with their audience. Those who do not recognize the significance of these content formats risk falling behind in engaging and resonating with their target market.

Kristy Johnson Director of Brand Strategy

Photo by Nik on Unsplash

Personalized Experiences

DIGITAL CONSUMERS ARE HUNGRY FOR PERSONALIZED ONLINE EXPERIENCES, SPANNING E-COMMERCE, EDUCATION, ENTERTAINMENT, AND MORE.

“Today’s digital consumer wants and expects personalized experiences. The proliferation of AI through large language models (LLMs) and easy-to-use integrations has allowed consumer executions to develop at scale—from travel to ecommerce to entertainment. Furthermore, a recent YouGov poll found that two in five consumers believe AI will help personalize online shopping.”

Webby Awards 2024 Trend Report (pg. 17)

“Personalization makes a customer feel valued, which in turn increases brand loyalty and strengthens customer relationships. With 60% of consumers reporting becoming repeat buyers after a personalized purchasing experience, brands that don’t offer customized experiences risk getting left behind.”

Brandwatch 2024 Digital Marketing Trends

Andrew Wheeler, CEO at Skyword, says: “In 2024, marketers must wake up to the fact that their mass-produced content is becoming obsolete with AI tools emerging as the go-to for buyers seeking instant answers, suggestions, and problem-solving advice. Savvy marketers will adapt by leaning into purpose-led content that resonates in ways AI can’t. Purpose-led means you have an exact understanding of who your brand helps and why it matters. It means you’re exceptionally dialed into the context in which your audience needs you, what they hope to gain, and how you make their lives better. And it means 100% of your content is focused on fulfilling their functional, emotional, and social needs in that context.”

Hubspot Marketing Trends

The Ethics of Data and Privacy

ALTHOUGH FIRST-PARTY DATA COLLECTION IS KEY TO LONG-TERM SUCCESS, MANY DIGITAL MARKETERS ARE AIMING TO BUILD TRUST WITH THEIR CUSTOMERS — AND RESPECT THEIR INCREASING DESIRE FOR PRIVACY — BY PRIORITIZING USER CONSENT, EMBRACING OPEN DATA STANDARDS, AND PLACING A PREMIUM ON ETHICAL DATA ACQUISITION.

“With increased data privacy and security worries, digital marketers must adapt to more vital legislation and customer expectations in 2024. The emphasis on user consent and open data standards will continue to grow. Marketers will place a premium on ethical data acquisition and storage, offering users more control over their personal information. Zero-party data collecting and privacy-focused advertising will become more popular. This would help businesses to create trust with their customers while providing individualized experiences.”

Medium

Andy Crestodina, co-founder and CMO at Orbit Media says: “We’re in a low-data era of marketing, so get ready to make more decisions with less decision support. It’s going to be like the old days of advertising. Do the things that have always built awareness and trust. Create videos, publish research reports, get active with PR, collaborate with influencers. You won’t be able to connect all the dots, but strategy and fundamentals still apply. Those will never change. ”

Hubspot Marketing Trends

“While the death of the third-party cookie has been at hand for years, fewer than half of brands use first-party data today. Nearly all marketers, however, understand its necessity in achieving long-term success. As privacy concerns and regulations increase, there will be a significant increase in first-party data collection and use. This shift might feel like a strong one at first, but ultimately will deliver increased accuracy, performance and compliance for marketers.”

AdAge 5 Predictions for Marketing

“For advertisers that have invested in developing subscription offerings, newsletters, and tools to collect consumer data and build sophisticated content taxonomies to deliver meaningful contextual offerings, 2024 will be the year these investments pay off in spades. And for those who haven’t, expect a year of scrambling and reacting to a train that has been barreling down the tracks of the industry for a long time.”

Fast Company

THOUGHTS FROM OUR TEAM

Ben Koester Director of Digital Strategy

The ability to reach new and existing users on social platforms has become increasingly critical. With younger generations showing Google is not their only search engine option, customer journeys are more unique than ever before. Staying top of mind throughout the process is imperative while staying relevant has never been more difficult. Tailoring your social content with keywords and descriptive data has become a necessity.

Photo by Georgia de Lotz on Unsplash

Social Media as Search

PLATFORMS LIKE TIKTOK AND INSTAGRAM ARE INCREASINGLY USED FOR SEARCH BY GEN Z, EMPHASIZING THE IMPORTANCE OF INCORPORATING KEYWORDS AND DESCRIPTIVE DATA IN CAPTIONS TO ENHANCE POST DISCOVERABILITY.

“Marketers have long optimized their websites and content to rank higher on search platforms like Google and Bing – but increasingly, the most cutting-edge marketers are optimizing the social media content with equal detail. Last year, the top search engine in the world, Google, reported that roughly 40% of Gen-Z is using TikTok and Instagram for search instead of Google. That’s why, it’s more important than ever for digital marketers to consider nuances such as keywords and metadata on social media posts.

“This also means captions, inclusive of keywords and descriptive data can help improve a brand’s post discoverability. So, while brevity historically drove social engagement, increasingly more keywords and content are likely to help boost post ranking.”

Forbes Top Social and Digital Marketing Trends to Watch in 2024

“TikTok and ChatGPT may be more topical among marketers, but in many ways, YouTube is actually more impactful. That’s because YouTube is more than a behemoth of a social media video platform, it’s also the second largest search engine in the world. … YouTube Shorts specifically is a trend to watch. … Given regulatory data concerns around TikTok, many marketers will continue to turn to YouTube Shorts and Meta Reels for their short-form video content.”

Forbes Top Social and Digital Marketing Trends to Watch in 2024

“31% of consumers use social media to find answers to their questions. … The younger the generation, the larger the percentage of consumers who prefer social search. When thinking about future strategies, this could be a major shift for brands as increasing members of Gen Z age into full buying power as they get jobs, rise in career ranks, and generate more income than they had before.”

Hubspot

SEO Driven by Firsthand Experiences

WITH THE ADDITION OF AN EXTRA “E” FOR “EXPERIENCE” IN GOOGLE’S E-E-A-T FRAMEWORK, HUMAN-GENERATED, EXPERIENCE-DRIVEN CONTENT IS NOW MORE IMPORTANT THAN EVER TO ENHANCE A WEBSITE’S CREDIBILITY AND ACHIEVE SEO SUCCESS.

“Google’s EEAT (Experience, Expertise, Authoritativeness, and Trustworthiness) framework is not a ranking factor but a component of its Search Quality Evaluator Guidelines. While this framework has existed for a decade, this year Google added an extra E for ‘Experience’.

“This is significant as AI cannot generate realworld experience like people can. This gives human content marketers an advantage and cements the importance of having experts write or inform content.”

Digital Marketing Institute

“Authority within SEO isn’t a novel concept. For years, SEO experts have concentrated on page and site-level metrics. However, the rise of entities, recognized through schema markup and the Knowledge Graph, is now pivotal in enhancing a site’s or individual’s Experience, Expertise, Authoritativeness, and Trustworthiness (E-E-A-T). In 2024, it’s crucial to implement the correct schema markup for a page or site. Plus, you should craft content that genuinely serves the end user.

“Over the past year, Google has underscored the importance of E-E-A-T with several updates, including an additional ‘E’ for experience.

This reflects a shift towards valuing personal experience in creating helpful, user-centric content. Alongside this, Google has updated its schema documentation — most notably with the anticipated enhancements to the Organization schema. In addition, it also introduced new types, such as profiles for individuals, discussion forums, educational offerings, and vacation rental listings.”

Yoast: SEO in 2024

“In 2024, we’ll inevitably see more low-quality AI content on the web, leading to apprehension and distrust among readers. In response, people will naturally gravitate towards thought leaders for reliable information. Authentic and original insights from thought leaders enhance your brand’s reputation and credibility, key factors in Google’s content quality assessment.

“Brands will likely adopt a more product-led SEO approach, incorporating case studies and unique customer stories into their content. This strategy ensures originality and makes it difficult for competitors to replicate content, as it is deeply rooted in individual product experiences and narratives.”

Moz 2024 SEO and Content Trends

Photo by Campaign Creators on Unsplash

Photo by Maddi Bazzocco on Unsplash

Prioritizing Social Platforms

IN 2024, FORWARD-THINKING ORGANIZATIONS ARE REJECTING THE OUTDATED NOTION OF SPREADING EFFORTS THIN ACROSS EVERY SOCIAL PLATFORM AND INSTEAD STRATEGICALLY FOCUSING ON THOSE THAT ALIGN WITH THEIR PURPOSE AND OBJECTIVES.

“Historically, when organizations felt iffy about how a platform was contributing to their social and business goals, they didn’t do much about it. Social marketers would overextend themselves trying to do everything, everywhere, all at once … [even] though this resulted in lousy content, poor social media performance, and burnt out staff, it was still considered less of a risk than scaling back on platform efforts.

“In 2024, strategic organizations will push back against unjustified expectations to do everything on every platform. They’ll unlock their top-performing channels based on ROI, and focus their attention on those—and only those. If they’re really confident (and brave), they might even abandon one or two altogether.”

Hootsuite Social Trends 2024 (pages 21,23)

“The time for meaningless noise is over and brands that are looking to drive traction cannot simply occupy the airwaves to capture consumers’ attention. Brands should lean into the marketing tactics and strategies that best align with their intent and objectives— future proofing decisions by ensuring the brands’ purpose is infused throughout the conversation.”

Comperemedia 2024 Omnichannel Marketing Trends (page 18)

Chatbots: The New Customer Service

AI-DRIVEN CUSTOMER SERVICE, PARTICULARLY THROUGH CHATBOTS, WILL DOMINATE DIGITAL MARKETING DUE TO THEIR ABILITY TO PROVIDE PERSONALIZED, CONVERSATIONAL RESULTS.

“The trend of chatbots going mainstream is becoming increasingly evident in the world of technology. With the development of new generative LLMs (Large Language Models like OpenAI’s ChatGPT), chatbots are set to become far superior in terms of their capabilities and functionality. As a result, smaller brands and companies are expected to start using these advanced technologies to create truly fantastic chatbots that offer an unparalleled user experience. Not only will the experience be better, but the number of channels that will take advantage of them will also increase, including popular platforms like WhatsApp. With this exciting trend, we can expect to see chatbots become a more integral part of our daily eCommerce lives.”

Wunderman Thompson Top Commerce Trends for 2024 (pg. 7)

“Meta says users and businesses have 600 million daily chats on their platforms. Our survey found that 75% of marketers agree that AI-driven customer service (for example, via chatbots) will dominate in 2024.”

Brandwatch 2024 Digital Marketing Trends

“HubSpot research found that 55% of businesses predict that by 2024, most people will turn to chatbots over search engines for answers. AI-powered chatbots offer a conversational approach to research, provide individualized, user-friendly results, and gather data that helps businesses grow. Twenty-five percent of marketers who report having ‘effective’ marketing strategies in 2023 used AI and automation like chatbots versus only 5% of those who report having ‘ineffective’ marketing strategies.”

HubSpot State of Marketing Report 2024

Photo by Mylo Kaye on Unsplash

Spatial Technology

WITH THE RECENT ANNOUNCEMENT OF APPLE VISION PRO AND OTHER NEXT-GEN INTERFACES, THE SPATIAL WEB — A SEAMLESS BLENDING BETWEEN DIGITAL CONTENT AND THE PHYSICAL WORLD — IS IMMINENT AND PREDICTED TO SURPASS METAVERSE ESTIMATES.

“The impending spatial web (also known as Web 3.0) promises to eliminate the boundary between digital content and physical objects, effectively blending these two realities into one.

“Through next-gen interfaces such as smart glasses, the spatial web can allow us to interact with real-time information prompted by our physical environment, through geolocation, computer vision, or biometric commands like voice and gestures. Given the possibilities, the market for spatial computing is poised to dwarf previous estimates for the metaverse … While the true potential of the spatial web is still years away, innovators are building its infrastructure now. In the next 18 to 24 months, companies should pay attention to the value opportunities for adopting spatial operations and arming their employees with tech that supercharges their work.”

Deloitte Tech Trends 2024

“Apple will launch its Vision Pro mixed-reality headset in February 2024. For $3,499, buyers will have access to what Apple calls its ‘first spatial computer.’ The device promises to ‘seamlessly blend digital content with the physical world,’ making it a significant mass-market effort at untethering digital interfaces from screens.

“At CES 2024, Niantic’s director of product AR platforms, Tom Emrich, predicted that the contextual advantages of smart glasses and headsets would turn smartphones into a ‘sidekick’ and a ‘hub for all things wearable devices.’ According to Emrich, the spatial tech category ‘is just coming together. But this means that it presents a massive opportunity for app developers, for web developers, for brands and retailers especially to get their feet wet.’ He added, ‘I agree with Tim Cook—the spatial computing era has arrived and we’re just getting started.’”

VML: The Future 100 2024

Instilling Trust

THERE’S STILL A SUBSTANTIAL GAP BETWEEN AI’S CAPACITY TO GENERATE HYPER-REALISTIC CONTENT AND AN AUDIENCE’S ABILITY TO CONSISTENTLY DISTINGUISH ITS SOURCE, LEADING TO SIGNIFICANT CONCERNS ABOUT TRUST AND DISCERNING REAL INFORMATION FROM FAKE.

“Currently, there’s a large gap between AI’s ability to create realistic-sounding content and people’s ability to recognize it. A majority of people say they can tell the difference between AI- and human-generated content, but another 20% aren’t sure. However, the first group is likely to be overconfident. Few people can reliably distinguish between the two precisely because AI content generators are trained on humancreated content and developed to replicate it as closely as possible. People may expect artificially generated content to look or sound robotic in some way, but more than ever, it feels human.”

Deloitte Tech Trends 2024

“AI-generated social posts get a lot of buzz, but the question of trust still casts a big shadow. No one’s a stranger to fake news anymore. And the idea of a machine stringing words or mashing images together to be shared online makes some people uneasy, especially when trying to gauge what’s real and what’s not on social. These sentiments line up with a 2022 study by the Pew Research Center on the increased use of AI in daily life. The study found that 45% of US adults are equally concerned and excited about this, while 37% are more concerned than excited, and only 18% are more excited than concerned.”

Hootsuite Social Trends 2024 (pages 21,23)

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Brand and Creative Trends

In response to the challenges of the times and a rise in AI-generated content, brands and audiences are pivoting toward authentic, accessible content that evokes wonder, joy, nostalgia, and emotional connection — including fluid shapes, colorful gradients, and bold type choices.

GARCES Brand Design by Estudio Albino

The New Nostalgia

IN 2024, THERE IS A GROWING FASCINATION IN REIMAGINING VINTAGE STYLES, BRANDING, AND SETTINGS — ESPECIALLY THROUGH AI-GENERATED RENDERINGS — WHILE SIMULTANEOUSLY BEGINNING TO DETACH MORE FROM DISTRACTING TECHNOLOGY.

“What began as a fascination with 90’s and aughts styles, design, and technology, has grown into a deep dive into all eras, reenvisioning and reinterpreting vintage lifestyles and settings with plenty of creative license throughout, particularly with AI-generated hyper-realistic renderings of past periods.

“67% of Gen Z in the US believe technology makes us feel more detached from the real world, while more than half (58%) agree with the statement: ‘I feel like technology distracts me from living a more interesting life.’”

Adobe Creative Trends 2024 (pg. 17)

“Last year Y2K brought back glitter, gaudiness, and worst of all, low-rise jeans. But this year designers are looking to the funky 60s and 70s for nostalgic relief. This is one of the top graphic design trends you’ll see this year. Think of faded retro color palettes, handmade illustrations, and a focus on the human touch to designs.

“In 2024, people are clinging to the simplicity of older times. With all this talk of AI, quantum computing, and the end of the world as we know it, designers and people alike need a break from technological advancement. Que the rise of polaroid cameras and film – and a regression to simpler graphics and colors.”

Looka

“In 2024, nostalgia won’t just be about hiding in the past. Modern tools make vintage looks, old media, and historical branding more accessible than ever, and even offer the potential to improve on them. … They might not have been there the first time around, but Gen-Z are set to redefine which historical branding matters over the next few years, and the rest of us are along for the ride.”

INC Article

Authenticity

GEN Z VALUES AUTHENTICITY, WITH A PREFERENCE FOR BRANDS USING REAL CUSTOMER IMAGES, CONTRIBUTING TO SOCIAL CAUSES, AND PRIORITIZING CONTENT BASED ON THE BRAND EXPERIENCE RATHER THAN THE CREATOR.

“Gen Zers prefer authentic brands that use images of real customers in advertising and are more likely to buy from a company that contributes to social causes. … The marketing landscape continues to rapidly evolve. Marketers who adapt to these trends and prioritize authenticity, data-driven strategies and engaging content will be well-positioned for success in 2024.”

AdAge 5 Predictions for Marketing

“[AI] should be used to research, brainstorm, and refine messaging — but each step of the process needs to be human-first.” As Holly Bowyer and Julie Neumark, partners at Media & Marketing Minds, told HubSpot, “Remember that human beings — including your target audience — can smell inauthenticity from miles away. So, embrace AI … just know that everyone else is, too. Stand out this year by anchoring your brand messaging to your uniquely human voice.”

Hubspot: 9 Pivotal Marketing Trends to Watch in 2024

“To thrive in this new environment, marketers and brands need to move beyond defining ‘real’ and ‘authentic’ based on whether something was created exclusively by a human. Like it

or not we’re all cyborgs now, at least at work. Whether we’re using AI as a brainstorming partner, letting it finish our sentences for us, pretending it doesn’t exist, or (more likely) a mix of the above, this genie is out of the bottle. In 2024, the most successful brands will redefine ‘authenticity.’ It’s not about who (or what) creates your content anymore; it’s about the brand experience your content creates for the customer.”

Hootsuite Social Trends 2024 (pages 21,23)

“Authenticity may sound like a buzzword. But it’s only going to be more important to your strategy. As Carolyn MacLeod, Senior Manager, Social Media at PBS Kids, [told Sprout Social], ‘Authenticity will continue to be the name of the game, especially as AI becomes a more commonly used tool. In a way, social media managers may want to think more like creators.’ … You can also spur this connection by simply engaging with your community. According to the [2023 Sprout Social Index], 37% of consumers say the most memorable brands on social prioritize engaging with their audience vs. publishing a lot of content. So double down on your customer engagement.”

Sprout

Mind Memo Ad Design by Valerie Yoewono

Photo by Surface on Unsplash

Wonder + Joy

IN RESPONSE TO TODAY’S CHALLENGING ENVIRONMENT, CONSUMERS SEEK VISUALS AND EXPERIENCES THAT EVOKE AWE, JOY, AND ENCHANTMENT AS COPING MECHANISMS, AS THESE EMOTIONAL CONNECTIONS PLAY A CRUCIAL ROLE IN COMBATING BURNOUT AND DISCONNECTION.

“Consumers are craving visuals that inspire a sense of awe, joy, and enchantment as a coping mechanism in today’s challenging macroeconomic environment. The Wonder and Joy trend spans all types of brand messaging and experiences: From simple pleasures, being a ‘kidult’, to full-blown luxury travel and experiences, and AI-generated fantasy environments.”

Adobe Creative Trends 2024

“In a world where joy is in short supply, it becomes more important than ever. We see joy, softness, and play emerge as powerful weapons against a frightening, frantic, and chaotic world. … So intense is our pace of life that every moment of respite and relaxation matters. Brands who can create pauses, rituals and moments that allow consumers to exhale and be themselves will feel the benefit.”

Dentsu 2024 Creative Trends (pg. 6)

“At a time when people feel burned out, disconnected, and jaded, 77% say they ‘just want to feel something, to feel alive.’ There is a spectrum of emotion for brands to explore, and a slew of benefits to doing so. Psychology tells us fun and joy play a vital role in our physical and mental wellbeing as well as acting as a social lubricant. Feeling awe too is prosocial, and also helps us stop ruminating, look outward, and feel more connected. Surprise can help us connect, as well as reshape selfperceptions. Even difficult emotions have their place, helping us to process challenges and build resilience.”

VML: The Future 100 2024

Accessibility

IN 2024, WE’LL SEE A SIGNIFICANT SHIFT TOWARD UTILIZING AI FOR GENERATING IMAGE DESCRIPTIONS, CAPTIONS, AND SUBTITLES, AS WELL AS FOR CONDUCTING ACCESSIBILITY AND CONTRAST TESTING, IN AN EFFORT TO MAKE CONTENT MORE USABLE FOR THE ESTIMATED 1.3 BILLION PEOPLE WORLDWIDE WITH SIGNIFICANT DISABILITIES.

“Gone are the days of color palettes chosen solely for aesthetics. 2024 ushers in the era of accessible color combinations. This means adopting palettes that meet the WCAG (Web Content Accessibility Guidelines) requirements, ensuring designs are readily visible to individuals with color blindness. Designs will see more high-contrast pairings like yellow and blue or green and pink, ensuring information pops regardless of visual limitations.”

Vengage

“Accessibility as a topic of web UI trends will continue to gain momentum in 2024. As digital devices and tools become more commonplace, it has become imperative that they also become more inclusive. Designers now need to consider how their apps will be used by diverse users, such as people with disabilities and those who use different languages or have various educational backgrounds. Design trends in UI are now routinely incorporating features like screen readers, keyboard navigation, high-contrast modes, and multilingual options. Designers must also consider technological differences that users might face, for example, low network connectivity in certain areas or different device configurations.”

FuseLab

“When we talk about color accessibility, we are talking about inclusion. When creating websites, applications, and social media assets, we must ensure they are accessible and usable for all individuals, regardless

of their visual acuity. This includes people with low vision, color blindness, or other conditions that affect their ability to see colors.”

Rock Content

“An estimated 1.3 billion people experience significant disability. This number represents 16 percent of the world’s population, or 1 in 6 of us. ... In 2024, more brands should take advantage of AI to make their content accessible by using:

ة Image descriptions. AI tools can automatically generate alternative text for images used in content, though brands will still need to ensure the descriptions are accurate.

ة Captioning and subtitling. AI can help automatically create video captions and subtitles, which are becoming increasingly popular on social media.

ة Accessibility testing. AI tools for accessibility testing will improve the ability to evaluate and repair content in an automated manner.

ة Intelligent agents. AI-supported chat functionality can help make long-form or harder-to-find content easier to access for neurodiverse users.”

Adobe AI 2024 Trends

THOUGHTS FROM OUR TEAM

As we progress into 2024, it is imperative to embrace accessibility and commit to building a digital landscape that leaves no one behind. So many tools already exist to make this process easy. The proliferation of AI provides an even easier way to enhance accessibility, allowing web developers to streamline processes like adding alt text to photos and videos, which in the past has been a timeconsuming process. Why exclude people by not accounting for all users when so many great tools exist?

Carmen Erdie Web Developer

Art by Subash Chandra for Seative Digital

Adobe Contrast Checker

THOUGHTS FROM OUR TEAM

Everyone is familiar with the saying, “less is more”, and as new design trends emerge, we see more of this trend every day. I think people are accustomed to always being on the move and wanting things done as quickly as possible, and now it’s starting to reflect in design trends. Bold minimalism designs focus on being clean, simple, and easy to read — or for most, fast to read.

Amber Pasquarelli Visual Designer

Reggie Brand Design by Carla Palette

Bold Minimalism

IN A WORLD FILLED WITH NOISE, MINIMALISM CONTINUES TO BE A POWERFUL DESIGN TREND, EMPHASIZING A LIMITED COLOR PALETTE AND TYPOGRAPHY TO CONVEY MESSAGES WITH PRECISION.

“With a limited color palette and a focus on typography, minimalism allows designers to convey a message with precision. Its adaptability to various mediums, from websites to branding, makes it a versatile choice for design projects. As we journey through 2024, minimalism reminds us that sometimes, in a world filled with noise, a whisper can be far more powerful than a shout.”

Medium

“Minimalism continues to dominate the branding design landscape in 2024. Clean lines, ample white space, and simplicity remain key components. However, this year, designers are adding a twist by incorporating bold color choices and creative typography. Brands are finding new ways to stand out by using striking and unexpected color combinations that capture attention without overwhelming the viewer.”

“Minimalism seeks to create impact by minimizing the number of elements used. This trend uses simple, strong visuals, including clean lines, ample white space, and easy-toread fonts. On the other hand, colorful and bold minimalism brings a fresh and trendy look to conventional minimalism. This attentiongrabber trend brings out an ultra-bright and joyful approach.

“According to industry experts, this trend not only brings a sense of elegance and simplicity to the forefront but also promotes efficient communication.”

Branding Forum

Sketchdesk Top 2024 Branding Design Trends

Fluid Shapes and Forms

SIMPLE, EXPRESSIVE, AND ABSTRACT ELEMENTS, PARTICULARLY DYNAMIC AND FLOWING SHAPES, ARE GAINING POPULARITY WHILE ALSO SERVING AS A MEANS TO INFUSE BRANDS WITH A MODERN OR CALMING FEEL.

“Simple, expressive, and abstract, [the flow and form] trend is playful but packs a punch. You’ll see it in lively blob art or flowing, minimalistic shapes in murals, and youthful brands looking to capture hearts and change minds.

“The fusion of dynamic shapes with balanced bright colors makes for a captivating visual communication tool. Fluid organic shapes will continue to dominate packaging and brand identities, forming compositions and framing text or imagery – and the clever use of fun, oversized geometrical elements infuses any brand with a fun-loving yet contemporary vibe. This trend remains a popular growing style, increasing by 27% last year.”

Canva Design Trends 2024

“Fluid and flowing forms soothe the senses and support emotional balance. With mental and emotional health now a global priority, these soothing and rhythmic visuals have a calming effect and are being used by a growing number of brands and companies in workplaces, retail spaces, outdoor installations, social platforms, and apps across all regions. Calming Rhythms visuals can vary from simple abstract and repetitive backgrounds to slowly shifting and transforming forms, often set to relaxing sounds and music.”

Adobe Creative Trends 2024

Da Nolita Brand Design by Jona Sbarzaglia Studio

by Harmonais Vissual

Poster Design by Alexander Zemelka

Anti-Design/Neo-Brutalism

IN 2024, THE DESIGN LANDSCAPE EMBRACES NEO-BRUTALISM, A TREND INSPIRED BY MIDCENTURY BRUTALISM, CHARACTERIZED BY OFF-GRID LAYOUTS, BOLD COLORS, EXPERIMENTAL TYPEFACES, AND A DELIBERATE DISREGARD FOR TRADITIONAL DESIGN PRINCIPLES.

“In 2023 we saw dark and brutalist designs along with the goth trend re-emerging from its grave. The dark and mysterious allure of 2023 remains, but the approach is different in 2024.”

Looka

“While it’s often frowned upon, sometimes it’s okay to break the rules, think outside the box, and create designs that disregard the traditional design principles. One trend that openly welcomes you to break all those rules is Neo-Brutalism.”

Design Shack

“Here’s design that makes a statement breaking rules. Inspired by mid-century Brutalism, this trend features off-grid layouts and design elements with no care for classical proportions or minimalism. Combined with bold colors

and experimental typefaces, these Carsonified layouts defy pixel perfection and celebrate creative rebellion in all its eye-catching glory. In web design, brutalism reminds us of retro 90s interfaces with no regard for polish, featuring plain geometric shapes in flat design layouts. Unfinished. It’s anti-design, by design.

“Both Brutalism and Anti-Design offer alternative perspectives on design, emphasizing functionality and individuality, respectively. Their continued growth as trends reflects the ever-evolving nature of design, as it responds to societal shifts and challenges conventional aesthetics.”

Creative Market Pulse: Graphic Design Trends for 2024

Experimental Typography

EXPERIMENTAL TYPEFACES ARE A GROWING DESIGN TREND, FEATURING A VARIETY OF STYLES, INCLUDING EDGY AND FUNKY LINES, ANIMATION, 3D ELEMENTS, COLOR, AND MORE, ALLOWING DESIGNERS TO PUSH THE BOUNDARIES OF TRADITIONAL FONT RULES.

“Experimental typefaces are in. These specialty fonts, which come in all manner of styles and options, are adorning all types of projects with a modern style that creates a unique and personalized feel.

“Experimental typefaces include anything that’s a little different, including fonts with edgy and funky lines or strokes, animation, 3D elements, color, illustrations, and variable styling. They are identifiable because you can’t look at these typefaces and pinpoint a name or exact style for them.”

Design Shack

“Thanks to the rise of variable fonts over the last few years, we’ve seen the creative community really start to let loose regarding rule-following around fonts. This year, we expect designers and foundries to take things a step further with even more dynamic and experimental type. Early signs of this trend have already started taking hold – foundries proudly share out-of-this-world fonts, with some even building in public.”

CreativeBoom

THOUGHTS FROM OUR TEAM

Experimental typography pushes the boundaries of traditional design, exploring unconventional forms, layouts, and arrangements to convey messages in unique and captivating ways. This trend goes hand in hand with the anti-design trend by breaking rules and utilizing type in unexpected ways. By experimenting with typography, we can evoke emotions, spark curiosity, and engage audiences in unexpected ways.

Haley Drinkwater

Senior Brand and Interactive Designer

Wine & Bowties Visual Identity by Monga Design

Renzu Branding by Townsfolk Design

Abstract Gradients and Color Transitions

IN 2024, THE GRAPHIC DESIGN TREND OF USING GRADIENTS TAKES A NEW TWIST, INCORPORATING VIBRANT NEON COLORS AND MESMERIZING TRANSITIONS BETWEEN SHADES, ALLOWING FOR A MODERN AND SURREAL LOOK THAT ADDS DEPTH AND DIMENSION.

“Gradients are nothing new to graphic design, but in 2024 we’re expecting to see a punchier take on the usual color transitions on the scene. While gradients allow you to add bright and bold colors to your design without overwhelming the viewer, color transitions between two colors may give a more modern feel to your work.”

Adobe Express Graphic Design Trends for 2024

“Gradients create a soft smoky effect that gently morphs colors from one hue to the next. Gradients are keeping their momentum this year, but designers are looking to add a bit more pizzaz than the usual crystal tones and pastel hues. We’re seeing Vibrant neon colors that are lava lamp-esque and add a surreal look to designs.”

Looka

“This graphic design trend is all about seamlessly blending colors from one shade to another, creating mesmerizing transitions that add depth and dimension to designs. Gradients are versatile, lending themselves to a variety of applications, from backgrounds to typography and logos.”

Medium

Ethical and Sustainable Design

IN RESPONSE TO THE GROWING IMPORTANCE OF CLIMATE AWARENESS AND CONSUMER DEMAND FOR SUSTAINABILITY, DESIGNERS ARE INCREASINGLY INTEGRATING NATURAL MATERIALS, ECO-FRIENDLY PRACTICES, AND EARTHY COLOR PALETTES INTO THEIR WORK.

“Steve Jobs defined design as not just how something looks like, but how it works. We find ourselves creating at an era where design is what it looks like, how it works, and how it’s actually disposed of. Designers are integrating sustainable materials into their work and considering the environmental impact their choices have.

“Beyond look and feel, we’re getting more involved with how products and their promotional materials affect the planet. Expect a more minimalist approach to packaging design, concerned with material functionality beyond usage.”

Creative Market Pulse: Graphic Design Trends for 2024

“Environmental awareness is at its peak, and sustainable branding is not just a trend but a necessity. Brands are increasingly emphasizing eco-friendly practices and values in their design. This includes using recycled materials in packaging, choosing earthy color palettes, and incorporating eco-conscious messaging.”

Sketchdesk Top 2024 Branding Design Trends

“With the sustainability conversation growing, designers are embracing climate awareness and infusing their designs with natural elements, textures, and earthy color palettes. A report from McKinsey on sustainability and affordability found that 84% of consumers consider sustainability important in their purchase decisions. Products making sustainability-related claims are growing faster than those that don’t.

“With the rise of paper packaging, metal containers, and glass surfaces, designers are re-evaluating what earth-friendly colors and designs they can pack onto these materials without packing on more carbon emissions.”

Looka

THOUGHTS FROM OUR TEAM

Some of my favorite packaging designs include materials you can plant to grow your own flowers, herbs, vegetables, etc. Prioritizing sustainability may not fit in everyone’s lifestyle, but it promotes a social impact that helps people consider other options. Practicing more eco-friendly options in design and printing decisions benefits the planet, the company, and the consumers. To me, it’s a win-win-win.

Amber Pasquarelli Visual Designer

Dayli design by Glasfurd and Walker

03

Real Estate Industry Trends

The competitive luxury multifamily market demands a focus on innovative resident experiences, sustainable practices, and flexibility for hybrid work environments. Luckily, AI allows this industry to streamline workflows and make intelligent, data-driven choices when it comes to development and design.

THOUGHTS FROM OUR TEAM

Due to the demand, in the past 5–6 years there’s been an explosion of luxury rental properties – and we’re not talking about your typical luxury property amenities. These new ultra-luxe buildings include services and experiences like valet parking, poolside cocktail and food service, on-site athletic trainers, and even full-fledged concierge teams to plan travel and events for residents. Living in Austin has given me a front-row seat to some of this development like Sixth and Blanco, Residences at 6G, and The Waterline.

Allison Diep Brand Strategy Manager

Image from The Hue at Midtown

Maximizing Experiences

TO THRIVE IN THE COMPETITIVE LUXURY MULTIFAMILY MARKET, OPERATORS MUST DIFFERENTIATE THEMSELVES BY OFFERING INNOVATIVE AND MEMORABLE RESIDENT EXPERIENCES.

“With luxury dominating among the many apartment buildings opening their doors in the past year, luxe multifamily operators need to stand out from rivals to drive NOI. That means they will have to adopt innovative approaches in providing unique resident offerings, said Lisa Yeh, president of Sentral, a national property management company [to MultiHousing News]. ‘We’ll also see operators taking a page from hotels by creating enhanced, curated, memorable experiences, anything from exclusive food-and-beverage events to concierge services,’ she said. ‘Consumers have more choices than ever, so creating sticky experiences is more important than ever.’”

Multifamily Housing

“As Gen Z has entered the rental market, developers noted a shift toward experiences and a sense of community as an appeal of apartment living. A growing draw in amenity spaces are features that inspire residents to gather and converse with one another.”

MultifamilyDive

Proptech Consolidation

WE’RE SEEING A HEIGHTENED EMPHASIS ON EXPLORING THE POTENTIAL OF AI IN PROPERTYRELATED PROCESSES WHILE ALSO DEVELOPING A COHESIVE ECOSYSTEM AIMED AT STREAMLINING WORKFLOWS, ENHANCING DATA VISIBILITY, AND ENABLING INTELLIGENT, DATADRIVEN DECISION-MAKING.

“[The] new year could bring increased focus ‘on developing a unifying ecosystem to address disparate software applications,’ said Joya Pavesi, executive vice president of marketing and strategy for Charlotte, N.C.-based property management firm RKW Residential [to MultiHousing News]. ‘A unified ecosystem would not only streamline workflows but also enhance data visibility and accessibility, making operations more efficient and primed for intelligent, data-driven decision making.’”

Multifamily Housing

“AI advancements are showing promise in the real estate industry, offering capabilities such as enhancing the property search and analysis process, reshaping how investors assess potential investments, improving the customer experience, and streamlining due diligence and fraud detection in real estate transactions. However, despite AI’s tenured use in the industry, many of its capabilities are still largely unknown to our [commercial real estate] experts, with lack of understanding and AI misinformation being cited as key barriers to adoption.”

PWC 2024

“To cut costs, Spencer Gray, CEO of Indianapolisbased apartment owner and operator Gray Capital, thinks apartment operators will continue to turn to technology. ‘Higher operating expenses, especially some of the fixed costs — insurance, property taxes and payroll — are all up significantly, which is leading to this push for centralization through property management operators,’ he said.

“In fact, Gray thinks 2024 will be ‘the year of centralization’ as companies push more into artificial intelligence to save money and possibly upgrade the resident experience.

‘[Centralization] has gone from a nice to have to a necessity to operate these properties more efficiently while also providing better service to residents,’ he said.”

Multifamily Dive

by Harmonais Vissual

Photo by Christian Lendl on Unsplash

Adaptive Reuse on the Rise

AMID A GROWING FOCUS ON SUSTAINABILITY AND COST CONSIDERATIONS, ADAPTIVE REUSE WILL CONTINUE TO THRIVE AS A PROMINENT DESIGN AND CONSTRUCTION TREND, WITH DEVELOPERS TRANSFORMING FORMER WAREHOUSES, FACTORIES, SCHOOLS, OFFICE BUILDINGS, AND OTHER ASSETS INTO MULTIFAMILY SPACES.

“Sustainability consciousness, along with cost issues, will foster continued growth of adaptive reuse as a prevalent design and construction movement in multifamily, said Eric Greenfield, real estate division chair at Polsinelli Law Firm [to Multi-Housing News]. The redevelopment of old warehouses, factories, schools, office buildings and other assets into multifamily will persist among developers in 2024 and beyond.”

Multifamily Housing

“‘The impact of the pandemic on office occupancy and subsequent obsolescence phenomenon has led owners/investors to quickly re-evaluate their office assets and come up with new potential solutions to either attract tenants or, for lower-tier assets, to seek alternative uses as permitted by their city zoning/guidelines,’” Brandon Burmeister, senior director of Cushman & Wakefield said.”

MultifamilyDive

“Cities and buildings can adapt and thrive by taking hybrid approaches themselves. Priorities might include developing mixed-use neighborhoods, constructing more adaptable

buildings, and designing multiuse office and retail space.

“Indeed, it is not hard to imagine more ‘hybrid floors’ in which offices, residences, and stores exist side by side. For floors—as for buildings and neighborhoods—turning empty spaces into hybrid places may not simply be a way to counter the damage wrought by the pandemic. It could be a way to transform superstar cities and prepare them for a dynamic, prosperous future.”

McKinsey Article 2023

“The urban landscape is getting a makeover, shifting from corporate to community. Office buildings, once the epicenters of the 9-to5 grind, are being transformed into the new homes of urbanites, in a pandemic-driven remote-work new reality. … From 2021 to 2024, the number of apartments scheduled for conversion from old office spaces increased from 12,100 to 55,300.”

Rent Cafe

Supply Outstrips Demand

IN 2024, MULTIFAMILY HOUSING IS SET TO EXPERIENCE THE LARGEST INFLUX OF NEW APARTMENT SUPPLY IN DECADES, LEADING TO A RISE IN OVERALL VACANCY RATES AND A SLOW DOWN IN RENT GROWTH.

“The biggest wave of new apartment supply in decades will temper rent growth and improve affordability for renters in 2024. With delivery of 440,000 new units expected in 2024 and more than 900,000 currently under construction, the overall vacancy rate is expected to rise and rent growth to decelerate.”

CBRE 2024 Trends

“The construction pipeline of multifamily deliveries in early 2024 should exert a negative impact on Class A rents as supply outpaces demand near term, said Justin Shay, managing director, multifamily investment sales for Miami, Fla.-based BermanCRE [to Multi-Housing News]. He believes this will be short-lived, as construction starts slowed in 2023 and should continue to slow in 2024.”

Multifamily Housing

Photo by Josh Olalde on Unsplash

THOUGHTS FROM OUR TEAM

I dreamed about working remotely from home or anywhere I want for years. Then, with some hard work toward that end, it happened and I am thoroughly enjoying it! But, I’m juggling plenty of work and schedules with a big family. So, it’s very interesting to see the percentage of Americans working hybrid has somewhat stabilized. At the end of the day, we are human and need real human connection.

Steven Jetton Web Developer

Photo by Windows on Unsplash

Hybrid Is Here to Stay

THE REAL ESTATE INDUSTRY WILL CONTINUE TO ACKNOWLEDGE THE LASTING IMPACT OF HYBRID WORK ARRANGEMENTS, WITH A SHIFT TOWARD PRIORITIZING OFFICE LOCATION, QUALITY, FLEXIBILITY, AND AMENITIES TO ATTRACT EMPLOYEES, AND CONTINUED DEMAND FOR RENTAL SPACES THAT BLEND WORK AND HOME LIFE.

“[The] normalization of hybrid working arrangements will continue to limit office demand in 2024. … Office location, quality, flexibility and amenities will be more important than ever to attract occupiers. While economic headwinds and the prevalence of hybrid working will play a major role in occupiers’ decisions in 2024, those that do lease space will flock to submarkets with an abundance of walkable amenities that help attract and retain the best talent.”

CBRE 2024

“Hybrid learning is here to stay, and there are at least three or four different flavors of hybrid. There’s HyFlex, where you have some students in class and some remote, and it’s all happening at the same time. There’s schedulebased hybrid, where depending on the day of the week, you’re hybrid, remote, or in person. There’s activity-based hybrid, where depending on what you’re doing, you might have a lecture remotely, and then a lab in person. And then there’s the blends of all of those. And the key is to find the right technology for each of those applications,” said Mark Thaler, global leader of Gensler’s Education practice.

Gensler Trends Shaping the Future of Higher

Education

“According to the latest estimates, 28 percent of all work days are still from home, and that figure appears to be stabilizing at that level. 42 percent of American workers currently have some form of remote work flexibility, and hybrid arrangements are much more common than fully remote ones. The data shows that hybrid work is here to stay, driving demand for rentals that provide spaces and amenities that blend work and home life for today’s flexible workforce.”

Rental Housing Journal Rental Predictions for 2024

Concessions and Cuts

THE MULTIFAMILY HOUSING MARKET IS EXPECTED TO FACE CHALLENGES WITH INCREASED SUPPLY AND DECREASED DEMAND, LEADING TO THE NECESSITY OF UTILIZING RENT CONCESSIONS AND REDUCTIONS IN CERTAIN MARKETS EXPERIENCING FALLING OCCUPANCY RATES.

“Rent concessions and rent cuts will need to be employed in those markets that see their occupancy rates slipping, faced with the double whammy of increased supply amid muted demand. Expenses and operating efficiencies will continue to pose challenges while regulations that will stymie the industry’s growth loom large.”

NAA 2024 Apartment Housing Outlook

“‘There’s so much supply coming online,’ said Spencer Gray, CEO of Indianapolis-based apartment owner and operator Gray Capital. ‘So there’s downward pressure on rents, and there’s downward pressure on occupancy.’”

Where rents will go in 2024 – Multifamily Dive

“‘In all likelihood, 2024 will bring another year of more supply than demand—adding another challenge for apartment investors also confronting higher expenses and elevated debt costs,’ Jay Parsons, chief economist for RealPage, tweeted on [January 4, 2024]. Parsons added: ‘That means renters suddenly have a lot more options, and in turn, [apartment] rent growth has evaporated.’”

Fast Company

Photo by Scott Graham on Unsplash

Single-Family Rentals Still Benefit

IN 2024, A SUBSTANTIAL INCREASE IN APARTMENT SUPPLY IS EXPECTED TO LOWER U.S. APARTMENT RENTS, BUT THE SINGLE-FAMILY RENTAL MARKET IS PROJECTED TO EXPERIENCE MODERATE GROWTH AND RESILIENCE, FUELED BY MILLENNIALS TRANSITIONING FROM APARTMENT LIVING TO SINGLE-FAMILY HOMES.

“Big picture: A substantial amount of apartment supply is anticipated to come online in 2024, exerting downward pressure on U.S. apartment rents—an effect that may contribute to fulfilling the Fed’s inflation mandate. However, don’t expect the exact same level of weakness in the single-family rental market, which continues to benefit from millennials transitioning from their apartment years to single-family home years.”

Fast Company

“The [single-family rental] industry this year entered a moderate growth mode that positions it to ‘thrive over the long term,’ Yardi Matrix reports. ‘Demand for single-family rentals is almost certain to remain firm.’”

Yardi via Probuilder

“Permit growth in 2024 will likely be positive for single-family homes but negative for multifamily units. Although the trendy [builtto-rent] category has no shortage of demand, rising costs for land, materials, labor and financing are making such developments less profitable in certain markets. Meanwhile, builders focused on traditional for-sale homes are holding the line on prices by adjusting standard specifications and constructing smaller homes. An overbuilt apartment sector in certain markets will likely mean a decline in national multifamily permits in 2024.”

US News

Sun Belt Still Growing

DESPITE CONCERNS ABOUT CLIMATE CHANGE, THE SUN BELT REGION — PARTICULARLY TEXAS AND FLORIDA — WILL STAND OUT AS A KEY FOCUS FOR REAL ESTATE INVESTMENT AND GROWTH, WITH NINE OF THE NATION’S 15 FASTEST-GROWING CITIES COMING FROM THIS AREA.

“Nine of the nation’s 15 fastest-growing cities, according to the U.S. Census Bureau, are in Texas and Florida. Texas also includes four of the nation’s most populous cities: Houston (No. 4), San Antonio (No. 7), Dallas (No. 9) and Austin (No. 10).”

Forbes Multifamly Trends to Watch in 2024

“The Sun Belt continues to be an attractive area for households, firms and investors, due to lower regulations and taxes, along with a growing

labor force. There is a strong and sustained market correlation between the overall real estate prospect ratings and home builder ratings in this region. Of the top 20 markets for ‘overall prospects,’ 15 of them are located within the Sun Belt. However, escalating risks from climate change could affect the trend of positive investment we’ve seen in this region.”

PWC 2024

As a long-time renter, it’s been interesting to watch more and more individuals continue to choose apartment living over making the jump to owning a home. I think many people — particularly Gen X and older — assume this decision is made for financial reasons or a lack of preparedness. But personally, it’s hard to overlook that rental living continues to increase in quality and accessibility (while remaining very low commitment).

by Harmonais Vissual

Lauren Goodman Creative Director

Photo by Naomi Hébert on Unsplash

THOUGHTS FROM OUR TEAM

Renting vs. Homeownership

IN THE CURRENT MACROECONOMIC ENVIRONMENT, THE GAP BETWEEN OWNING AND RENTING A HOME IS AT AN UNPRECEDENTED HIGH. THE RELATIVE AFFORDABILITY OF RENTING, COUPLED WITH CONSISTENT JOB AND WAGE GROWTH, IS EXPECTED TO KEEP MARKET FUNDAMENTALS SOLID.

“Never before has the monthly payment gap between owning and renting been this high, according to several different sources. Marcus & Millichap estimates that an average monthly homeowner payment (including taxes, home and mortgage insurance) in the U.S. is nearly $1,300 higher than the average monthly rent payment. This relative affordability coupled with consistent job and wage growth will keep market fundamentals solid.”

NAA Apartment Market Pulse

“‘The rent-versus-buy decision is increasingly nuanced given this dynamic macroeconomic environment, and it’s interesting to see the data support what we’re hearing anecdotally from residents: if you create communities built on quality, service and care, then apartments can become sought-after destinations where residents thrive through multiple seasons of their lives,’ said David Moore, Knightvest Founder and CEO.”

PR Newswire

“Many families are remaining renters longer than they may have in the past. Even those who can afford to buy in today’s market may find that renting now actually makes more financial sense. Although most Americans still aspire to own homes, more are now finding themselves renting later in life, and that trend is likely to continue.”

Rental Housing Journal Rental Predictions for 2024

The Rise of Communal Living

THE RISE OF SINGLE-PERSON AND SINGLE-PARENT HOUSEHOLDS, WHEN PAIRED WITH INCREASING LONELINESS AND HOUSING COSTS, HAS LED TO THE EMERGENCE OF INTENTIONAL COMMUNITIES AND CO-LIVING ARRANGEMENTS, OFFERING MUTUAL SUPPORT, ENRICHMENT, AND COMPANIONSHIP AS AN ALTERNATIVE TO TRADITIONAL FAMILY LIVING.

“The traditional family unit is being challenged. Single-person households are on the rise in many regions worldwide, while single-parent households now make up more than a fifth of households in the United States and the United Kingdom. Yet the rise in solo living is juxtaposed by rising loneliness and spiraling housing costs. Enter intentional communities: communities of choice that offer mutual support, enrichment, and companionship in an expanded notion of family.”

VML - Top 100

“The urban housing landscape is transforming, fueled by the growing popularity of communal living, or ‘co-living.’ … The concept of co-living isn’t a new phenomenon; however, it could be a solution for residents in those big cities with high rent, according to YouTuber and private equity investor Codie Sanchez, who said on X (formerly Twitter) that companies involved in co-living are aiming to offer affordability and flexibility. ‘There are 20% more co-living rooms in the US now than in 2020,’ Sanchez said [November 14, 2023], ‘and the global market is expected to grow 16% per year, hitting $9B by 2025.’”

Newsweek