Investor purchases dropped almost by half year-on-year in the 1st quarter of 2023 as elevated interest rates along with declining rents and housing values ate into potential profits, according to a report from Redfin. Of total home sales, investors had a 17.6% share.
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Sentiment is down, does that mean the prospect of higher returns is up?
According to a recent Gallup poll, real estate remains a top investment choice for Americans, although its popularity has decreased to a five-year low. In April, 34% of respondents selected real estate as the best place to invest their money, out of options including stocks, bonds, gold, and savings accounts. This poll has consistently ranked real estate as the preferred investment for the past decade.
“Those who have long enjoyed such privileges as we enjoy forget in time that men have died to win them.”- Franklin D. Roosevelt
The single-family home market in Sarasota County moved largely in lockstep with Manatee in April. We saw the same offsetting market data that leads to neither sellers or buyers having overwhelming negotiating leverage. As we head into the summer season, it looks like the Sarasota County market will remain in a healthy balance. The infographic from Florida Realtors below contains more detailed information on the results from April.
