One of the measures of the health of the real estate market is to track how mortgage loan repayments are performing. Understanding the trends regarding homeowner likelihood of default is important to understanding how the future supply of homes for sale will adjust. Of course, data is a bit skewed on the foreclosure front now due to the Pandemic induced moratorium on foreclosures.
Tag: Sarasota
This infographic from NAR is helpful in framing how you can ensure you get the most out of the relationship with your real estate agent.
An important factor in today’s market is the number of homes for sale. I normally share local inventory by price point; however, I thought I would take a step back to look at the data on a national level. While inventory levels continue to sit near historic lows, there are indications we may have already hit the lowest point. We’re still not close to a balanced market, which would be a 6 months’ supply of homes for sale. However, we are seeing a slow but steady increase in homes coming up for sale. See the chart below for a long-term perspective.
Given what we are seeing, what does it mean for buyers and sellers?
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.
The list of great things you will hear about moving to Sarasota is endless. Truly, it is a wonderful location for you and your family to move to. I could write upwards of a thousand words and link multiple other articles to back me up on why you will fall in love with Sarasota. What you do not often hear are the cons. No place is perfect. Everywhere you go has its downfalls.