The National Association of Realtors (NAR) recently stated that home sales could see a slight increase this year. If mortgage rates drop to 6%, next year could bring double-digit growth. According to NAR’s new Market Statistics Dashboard, mortgage rates around the 6% mark could trigger more than half a million additional home sales.
The infographic below is a timeless resource from Florida Realtors. When I’m showing listings to prospective homebuyers, the experience can sometimes feel overwhelming, despite my best efforts to make it manageable. That’s why tools that help categorize the homes we view are so valuable; they bring clarity and structure to the process. You may not find every item in the infographic relevant to your own priorities, and that’s perfectly okay. In fact, identifying what matters most to you is a great way to streamline the decision-making even further.
The movement we are seeing in the categories in the graphic below for Sarasota County appears to largely be an amplification of what we are seeing in Manatee. The market is even stronger on the lower end, and weaker on the upper end. Overall, this summer may be the best one we have had in years to purchase in Sarasota County. However, that doesn’t mean buyers are in the driver’s seat. It just means that sellers have to realize they don’t hold the cards that they used to hold. I believe that meaningful negotiations can produce very good outcomes on both sides. The infographic below from Florida Realtors contains more information.
The upward trend in inventory appears to be stabilizing in Manatee County. The market is still hotter at the lower end than the top end, pushing the median sale price down. However, it appears that the future market for at least next few months (our traditionally slower season) will look a lot like the market we have now. That means that transactions can get done in a reasonable manner whether you are a buyer or seller. The infographic below from Florida Realtors contains more details on the latest results from May.
For those of you selling your home, it’s important to think about what homebuyers are really looking for. The infographic from Florida Realtors, below, will help you in regard to that, especially with first time homebuyers.
