According to CoreLogic, home prices nationwide increased year over year by 18% in September 2021 compared with September 2020. On a month-over-month basis, home prices increased by 1.1% in September 2021 compared with August 2021. In Florida, we saw even more annualized growth, with year over year prices going up by 20%.
While I was happy to see Zillow officially announce that is getting out of the home buying business, it is unfortunate that it will result in a reduction in their employees. The reason I felt good about another iBuyer dropping out of the market is that it should continue to contribute to a rebalancing of supply and demand.
As fraudsters continue to become more creative, it is critical that we stay vigilant. Here are some tips for your real estate transaction.
Today, we are going to get laser focused on zip code 34202, which I am using to represent Lakewood Ranch. The graphic below shows September activity for this zip code. This shows that our strong seller’s market is still holding despite year-on-year sales being down.
Unlike most of the United States, our real estate market peaks in the winter. If you are considering selling, now is the time to get ahead of your competition. We are starting to see out of state buyer activity ramping up again as we head into October. Feel free to call me with questions.