Mortgage rates decreased last week following the Trump administration’s tariff announcement. The sharp sell-off in the stock market prompted investors to flock to the bond market, which led to a drop in bond yields. Since mortgage rates tend to follow the yield on the 10-year U.S. Treasury, this decline resulted in lower mortgage rates.
In this competitive market for home sellers, it is important to stage your home well to sell. I find that the list below from Florida Realtors works well for small to medium size homes.
Inventory for single-family homes crossed the six-month threshold in February. In other words, at the current pace of sales, it will take over six months to run out of homes to buy if no new listings appear. Many experts believe that is when a market officially turns into a buyer’s market.
As we are approaching the end of our busy season, it sure feels like buyer leverage is increasing in Manatee. That said, leverage for buyers is greater at the higher end of the market than the lower end. I continue to recommend that sellers put their best foot forward to help ensure they get the outcome they desire because it is not as easy to sell your home as it was a year ago. The infographic below from Florida Realtors offers more detailed information.
Florida Realtors has put together the helpful infographic below to assist you in your home selling process. As the market today is favoring buyers more than we have seen in the past several years, it is important to put your best foot forward when selling your home.
While closed sales saw solid year-over-year growth in January, they didn’t keep pace with new inventory on the market. Accordingly, the market continued to shift toward buyers in January. It is still relatively balanced, but it is in better shape at lower price points than the higher end of the market. Due to more transactions at the lower to middle end of the market, the median sales price was down a whopping 8.6% when compared to January of 2024. Overall, it feels like opportunities exist for home buyers in the market. The infographic below from Florida Realtors has more data from the month.
