Even with the strong year on year home sales gains over the last three-plus months, 2020 home sales are still slightly down across the U.S. when compared to 2019. The catch-up demand from the frozen market due to COVID-19 has not been quite enough to get us back to overall growth. However, if we continue the current trend for the rest of the year, we will end up with a very solid 2020 despite the COVID-19 turmoil.
Purchasing a newly constructed home is more complicated than buying an existing home. Accordingly, it is often more important to hire a real estate agent with a new home purchase than it is with an existing home. That said, make sure that any agent you hire has experience with new construction, as builder contracts and the building process are different from what most real estate agents normally deal with.
When purchasing a new home, it is important to do research on all facets of the homebuying process. One thing you will need to understand is how to best protect yourself and your investment if anything were to go wrong. The information below explains homeowner’s insurance and home warranties to help educate yourself on your options. Please keep in mind that they are not an either-or choice. Both types of protection can be immensely helpful.
Whether you are looking to buy, sell or invest in real estate, it is important to understand market conditions. Real estate is hyper-local, with market dynamics changing from subdivision to subdivision. However, county trends generally give you a good idea of what to expect.
While the luxury single family home markets ($1M+ homes) in both Sarasota and Manatee counties are buyer’s markets, they are both significantly better now for sellers than they were last year at this time.