The infographic below from Florida Realtors provides tips on ensuring your next home purchase is successful.
Categories
Buying Right
Tag: real estate agent
Categories
Housing Inflation
Housing inflation has remained relatively high even as overall U.S. inflation has significantly cooled from pandemic-era peaks. Economists point to this slow decline in housing costs as the main factor preventing the consumer price index (CPI) from reaching policymakers’ targets. Housing accounts for 36% of the CPI, the largest share compared to other categories like food and energy, as it is the biggest expense for the average household. Consequently, movements in shelter prices have a significant impact on inflation readings.
Categories
Home Selling Tips
Here are some tips from Real Simple and Florida Realtors on how to sell your home more quickly. With inventories higher than we have seen in a while, putting your best foot forward is important when trying to sell your home.
While there is a little more market movement in Sarasota County than Manatee County, the overall story is pretty consistent between both counties. Inventories are up, but not enough to swing us to a buyer’s market. Instead, balance rules the day. That said, at the current rate of change, we may be calling another buyers’ market before the next peak season in Sarasota. Now is a good time to be on either side of a transaction as there is some leverage to be had by both sides.
Given how much inventory has risen year over year (almost 70%), it is surprising how much everything else in the market has stayed virtually constant. Sales volume, pricing, and cash sales as a percent of total sales re almost unchanged, inventory has risen from less than 2 months of sales to more than 3 months of sales. So, what does it all mean? Well, the market still favors sellers to some degree, but homes are now on the market for a more reasonable amount of time. Also, homes that have no business selling at the initial asking price are generally not selling at or above that price. I tend to prefer this type of market as there is some level of negotiating leverage no matter whether I am representing buyers or sellers. See the infographic below for more information from Florida Realtors.
