Foreign buyers purchased 9.6% less (in total dollars) of real estate for the latest 12-month period tracked when compared to the previous year, according to a new report from the National Association of Realtors (NAR). That said, the average ($639,900) and median ($396,400) existing-home sales prices among international buyers were the highest ever recorded by NAR.
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.
While single-family home inventory levels in Manatee are thankfully higher this year than last, we didn’t see inventory build in June. Overall, the market remains fairly healthy when compared to 2022; however, more inventory would make a positive difference. The median price of homes has dropped slightly YoY; however, that doesn’t mean that home prices are falling. Rather, the lower end of the market is transacting at faster pace than it did last year, which is a good outcome for the county. The infographic from Florida Realtors below contains more of the details.
There are many reasons why home ownership is more compelling than renting. The infographic below from Florida Realtors via NAR highlights seven important ones.
According to a recent survey conducted by OnePoll on behalf of Divvy Homes, home affordability has become so out of reach that two out of five Americans believe they would need to win the lottery to become homeowners. The survey, which involved 2,000 current non-homeowners, also revealed that only 53% of them are confident in their ability to own a home someday.