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HOMEBUYERS ARE DEFYING EXPECTATIONS
Inventory of homes for sale continues to fall. Falling inventory in February is actually a pretty unusual phenomenon. Prior to the COVID-19 pandemic, it was normal for inventory to rise in February as the spring home sellers began listing their homes and buyers weren’t yet out in force. But in 2020 through 2022, buyers came out quickly after the new year and inventory didn’t hit bottom until much later in the spring. Read More
YES, YOU SHOULD BUY A HOUSE THIS YEAR
“2023 will be better for buyers,” said Magellan Realty LLC mortgage broker Alex Caras. “As the Federal Reserve keeps interest rates at the current levels, the buying market will start to open up more, reducing competition for existing homes.” Read More
HOME IMPROVEMENT PROJECTS RETURN LESS THAN ONE MAY THINK
Breaking down the number further, the average ROI for exterior projects such as a garage door replacement or porch addition is 23% higher than the ROI of interior projects. For interior projects, namely kitchen remodels, struggle to recoup costs, but replacing appliances and countertops has a good ROI for a relatively low price when compared to a complete remodel. Read More
HOMEBUYERS RETURN AS MARKET SHIFTS TOWARD THEIR FAVOR
The housing market has begun to recover after hitting a low point in the second week of November, according to a new report. The number of customers requesting property viewings has improved 17 percentage points from November, and the number of people contacting agents to start the home buying process has improved 13 points. Compared with a year ago, home viewings and requests for service are down 23% and 27%, but that’s an improvement from the November trough, when both were down 40%. Read More
THINKING OF MOVING TO ROSEMARY BEACH?
Are you thinking about moving to Rosemary Beach FL? Let’s explore Rosemary Beach FL today! Welcome to today’s video where I’ll be taking you on a walking vlog tour around a unique Florida community in Rosemary Beach Florida, what a beautiful place to live! Rosemary Beach Florida is a beautiful place to live. The scenery... Read More
NAR: HOMES SALES RETREAT, BUT BETTER DAYS LIKELY ARE COMING
December was another difficult month for home buyers, but expect sales to pick up soon, says NAR’s chief economist. December 2022 marked another month of sluggish home sales as buyers continued to back away from the market, spooked by higher mortgage rates and few choices of homes for sale. But home prices remained strong. Total... Read More
NEW HOUSING DATA SUGGESTS MARKET SLOWDOWN IS ENDING
New housing data released this week offers hope that the market slowdown may be short lived. Pending home sales rose 2.5% in December, ending a six-month slide, the National Association of REALTORS® reported Friday. New-home sales also rose 2.3% last month, according to the Commerce Department, and mortgage applications for home purchases are on the rise, coinciding with a continuing drop in mortgage rates. The 30-year fixed-rate mortgage fell to 6.13% this week, Freddie Mac reports. Read More
HIGHER SHARE OF SELLERS GIVE CONCESSIONS TO BUYERS
In Florida, the percent of seller concessions in Miami (28.7%) and Tampa (37.3%) lagged the average number nationwide (41.9%), but Orlando was higher at 47.8%. However, the year-to-year increase in both Tampa (up 13.2 points) and Orlando (up 17.8 points) was greater than the national average. Read More
2022 PRICE SLOWDOWN? SELLERS’ PROFITS STILL ROSE
Prices didn’t stop rising in 2022, increases just slowed. U.S. sellers averaged a $112K profit, up 21% – and eight of the top investment returns were in Fla. metros. Read More
Interest Rates, Inflation Impact Fla.’s 2022 Housing Market
Florida Realtors data: But for-sale inventory rose and median sales prices up year-over-year. Single-family homes up 15.7% to $402,500; condos up 21.6% to $306,500. ORLANDO, Fla.– As 2022 ended, Florida’s housing market looked similar to the more traditional market years prior to the pandemic in terms of total closed sales, though it fell short in... Read More