While I will be getting into June results for Manatee and Sarasota counties soon, I thought it would be good to start with an update on the U.S. overall. The information below is from the National Association of Realtors.
Category: Home Buying
We saw mortgage interest rates come back down a bit over the last 30 days. The recent change will save new borrowers over $17 per month for every $100,000 borrowed. Average U.S. rates for 30-year fixed rate mortgages were at 5.51% as of this week. Last month at this time, they were sitting at 5.78%.
Categories
Helping Buyers Win
The infographic below contains tips from the Florida Realtors Association to realtors to help buyers make informed decisions. I thought it would be good to share with you as well.
Sarasota County is moving towards a balanced market in lockstep with Manatee. However, it has a longer way to go to reach that balance. At the current pace, it looks like Sarasota County is a few months behind Manatee in reaching an equilibrium. That said, conditions are very fluid. For now, sellers still hold most of the cards in SFH transactions in Sarasota.
Closed sales continued their YoY downward trend while new listings continued their YoY upward trend in Manatee in May. That is good news in terms of balancing the market. We still have significantly less inventory than we need to support the current sales volume, but the market is moving giving buyers some leverage.
