Yesterday was Veteran’s Day and today, many will honor the national holiday with a day off from work for observance. The aim is to remember and thank our military men and women for their outstanding service.

As I thought about this and simultaneously put my real estate hat on, I wondered what it must be like to find housing when you are often moving around due to relocation, deployment or realignment. Is the process different for our troops and how does the supply and demand trend affect them?

Answering this question, ERA Real Estate uncovered some emerging trends among military homebuyers in a number of markets across the country. From Florida to Colorado to California, each military market has its own distinct drivers, from rental activity to new home construction and time on the market. Low interest rates and declining inventory – factors at play in many non-military markets across the country – are affecting military markets as well.

Most notably, fewer people are renting in many military markets as rising home prices increase home equity for homeowners who may have previously been under water on their mortgages and were unable to purchase after relocation.

And in many regions, the classic supply and demand scenario is alive and well. Like most of the nation, military markets are also seeing prices rise as inventory declines so renting, which used to be a safe option for military personnel who move frequently is beginning to be replaced by purchasing. In 2011 rental activity in these markets was high but in 2012 it seems to be reversing.

I find the military housing market fascinating because the needs of our military are so different and yet, they still experience many of the trends that the rest of us see as we buy or sell a home. If you too have an interest in this area, I suggest reading the ERA Real Estate 2012 Military Markets Report. You’ll learn a little more about some of our nation’s military bases and a lot about housing markets around the country.

In closing, a big thank you goes out to our troops for ensuring our freedom, safety and futures!  All that you do is greatly appreciated.