I attended an interesting meeting yesterday, hosted by a large home builder.
I was surprised by the number of homes they sell in a year. It would be hard to imagine a scenario where the available new home supply was greater than the demand from buyers in our "feeder markets" (big cities in the Northeast and Midwest).
The re-sale home market should continue to be strong, but slowing down.
I'm hearing that prospective home buyers are going to wait for prices to come down. If you're expecting prices to go back to pre-pandemic levels, you might be priced out of the market.
Our typical "snow bird season" is just around the corner.
I recently stopped in at several new home communities in my service area, and parking lots were full.
Keep in mind, what you're hearing in the national media about interest rates, has less of an influence on our local real estate market.
Sarasota and Lakewood Ranch were largely spared from major property damage from Ian. We're expecting demand from displaced home owners coming here, who want to remain in Florida.
Are you planning to buy, or sell your home? Contact me to discuss your options.