The latest home buying trends so far 2023, first time buyers are vanishing and at an all time low. First time buyers trend has generally been hovering around 40% of the housing market and has now dropped to 26% due to rise in interest rates and affordability was not in sight as per National Association of Realtors. Typically it is taking longer to sell your home due to this rise in the mortgage interest rates. Especially now with the current interest rates averaging 6.5% which is not qualifying many for the size home that is needed to provide for their family. Home prices has risen at least 80% since 2020. This is where the multi-generational families get together and their home buying has been successful. Click link to understand more /MULTIGENERATIONAL-HOMES---32819---32836---32819-6-24948.html
Home affordability has been a major issue between the price of homes and interest rate spikes. Since the 2020-2022 pandemic has caused havoc in America and many economic delays has disrupted the day to day operation of Americans and culture, rental prices went through the roof, loss of jobs, excessive use of credit cards and student loans have kept many out of the affordability spectrum to purchase a home. So with that said, those that can possibly qualify are finding that they may have to move much further out of their comfort zone, however affordability is within reach in those locations. Click link for a free copy of my free ebook https://kevinstrawter.book.live/read-buyer-book
The best way to avoid this affordability crisis is to pay cash for a home or finance a portion to afford your home of interest. Click link to learn more about home affordability /HOME-AFFORDABILITY---32819---32836---Dr-Phillips-6-23503.html
Lean on a trusted advisor to guide you through this process.
As a trusted advisor, professional realtor and retired military veteran I am here to serve you and always on the pulse of the Dr Phillips and Central Florida area. Always stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information whether it's a housing crisis or local housing market, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to ensure you are making the right decision. Don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with a home, look for your realtor with the heart of a teacher. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to homeownership and all your real estate needs.