New listings outpaced closed sales in April in Manatee County. That said, new pending sales are up year over year, and the market seems to be finding a good balance for home buyers and sellers. As we are heading into our slower summer, there is value to be found for buyers; however, sellers can still do well when they ensure their home is staged for sale. The infographic below from Florida realtors contains more details on the month of April.
Mortgage interest rates have trended slightly downward over the past 30 days. The recent change will save new borrowers about $5 per month for every $100,000 borrowed. As of this week, the average U.S. interest rate for 30-year fixed-rate mortgages is 7.02%, compared to 7.10% a month ago. Forecasts for future interest rate changes remain mixed.
While I have never run into it in our area, I have certainly heard of some of the traumatic stories associated with squatters. The infographic from Florida Realtors below explains the changes coming to Florida to help manage these situations.
Despite home sales hitting a 30-year low, the long-term population growth in the U.S. indicates a likely rebound in homebuying activity soon. With 70 million more Americans today than in 1995, coupled with escalating housing needs, it’s improbable that home sales will stay low for long, despite the current economic complexities.
As a real estate professional, it is easy to forget that not everyone is familiar with the transaction process. I find the infographic below from Florida Realtors to be helpful when familiarizing people with the steps we will go through for a home sale or purchase.
