Florida Realtors has put together the infographic below to help us understand how to ensure a global transaction in Florida goes smoothly.
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Global Transactions
Tag: home buying
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Housing Outlook
Despite some concerns about an impending recession, unemployment rates remain low, which presents a mixed scenario for the housing market. In March, the U.S. saw the addition of over 300,000 jobs, as reported by the Labor Department, reducing the unemployment rate to 3.8% from February’s 3.9%.
Cash sales made up almost 50% of the closed transactions for single-family homes in Sarasota County in February. There is still money moving into this housing market. That said, listings are continuing to outpace closed sales at almost a two to one clip. As overall inventory is just under six months of sales, we are still in a well-balanced market. In other words, it remains a solid time to be either a buyer or a seller in Sarasota County. The infographic from Florida Realtors below contains more information.
Homebuyers might want to temper their expectations for significant declines in mortgage rates as the spring housing season commences. The inflation rate increased to 3.2% year-over-year in February, as highlighted in the latest consumer price index report. This marks the third consecutive month of rising inflation rates, diverging further from the U.S. Federal Reserve’s 2% target.
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Approaching Home Buying
To successfully navigate your home-buying journey, I recommend that you adopt a balanced approach of being thoughtful yet decisive in today’s market. The list below reflects some of the main points of that balance.