housing market

Is it the right time to buy a home?

That is one of the most frequently asked question posed to a realtor today. There are many forces that drive the
real estate market: demand, inventory & interest rates are among the top of the list, and there is no doubt
that today’s buyers must do their homework!

Inventory is low and demand is strong which is fueling the higher prices. Interest rates climbing, are creating less opportunity for buyers who are looking for a mortgage, while sellers are reluctant to sell, giving up a 3% interest rate if they have mortgage.

As the mercury dips during the 2021 winter season bringing snow, freezing rain & ice to most of the nation, our northern friends find themselves shovelling their driveways and sidewalks almost daily. (Photo Courtesy B. Oriente, Chicago, IL)

It never gets old watching a sunset right on the Gulf! (Photo Courtesy of VZ)

Buyer's continue their search for the perfect place to call home and mortgage rates continue to slowly sink, like the sun at sunset, just below the 3% mark to 2.93%. Eventually, interest rates will began their ascend, but not just yet! Inventory may be tight, but the demand is still there and summer is proving to be another hot seller's market! 

There are many reasons you may want to move to Florida and living the "Salt Life" can certainly be high on the list! (Photo courtesy of VZ)

The housing market is accelerating!

S&P CoreLogic Case-Shiller reported in September 2020 that prices rose 3.9% this past July from the previous year and new homes rose 4.8% in August 2020. The report sighted "rock-bottom" low mortgage rates and a lack of for-sale homes, coupled with strong buyer demand were the main contributing factors for the higher prices.

If you are in the market to sell your home, you don't want to miss this market!  Give us a call and let us help you with all your real estate needs!

As the country and our state continue to face many uncertainties, we want you to know we are here for you and still open for business!

Facing the unknown is certainly tough and thinking about business may not be at the top of your list. However, as we work through a distressing event such as the one we are all facing, investing in real estate may still be meaningful.

New studies show that an increasing number of homebuyer's are still shopping, but doing so online. Closed sales in February/2020 were up 18% from same time last year and the average sale price increased 6.5%.