Housing market issues in some sort of fashion always are on the table. Two wow factor is that this is holding back the nation inventory. High mortgage rates are not only affecting home buyers. This locks out first time buyers with a desire to get out of the rental trap. Click link to learn more about the rental trap /RENTAL-TRAP---32819---32836---Dr-Phillips-6-23993.html
These high mortgage rates are discouraging many sellers to put their homes on the housing market as well. There is definite uncertainty now that mortgage rates has doubled over in 2023 and more inventory needed across the country, this brings fear and with fear brings paralysis.
In Florida alone in the beginning of 2023 our median prices started at 385k with more inventory compared to last year. The average renter goal has increased to purchase a home despite the high mortgage rates. A strong fear is that the homeowner selling their home with limited homes up for sale that does not meets their needs. Click link to learn more about Where will you go if you sell /WHERE-WILL-I-MOVE-WHEN-I-SELL-MY-HOME---32819---32836---Dr-Phillips-6-22954.html
This keeps sellers on the fence of making a major decision. Many sellers consider purchasing a new construction home versus an existing home. This gives a better chance of getting the product of their desire. Click link to learn more The typical mortgage rate is 6% as which we are in a cooling housing market phase. Click link to learn more /COOLING-HOUSING-MARKET---32819---32836---Dr-Phillips-6-23640.html
Many families are considering moving together and helping each other. As our parents get older and own their home, they considering selling off and move in with their kids to care for them provided space is their or purchase a larger home to accommodate parents needs.
There is still a strong consumer interest in buying a home that is strategically priced to sell quickly to fit your personal needs.
Inflation is still on the rise even though rental spikes has slowly decreased in some areas of our country. Regardless we are truly in an economic slow down and something must be done by the federal government to correct this matter to the best interest of our taxpaying citizens. Click link to learn more about this economic slowdown /WHERE-WILL-I-MOVE-WHEN-I-SELL-MY-HOME---32819---32836---Dr-Phillips-6-22954.html
Inflation has put mortgage rates above 6% which has definitely slowed down buying demand.
As we continue in this season we are in the mist of a ugly housing market correction. This is where housing prices increased significantly then interest rate increased significantly. So many wonder how can this be fixed? A plan for a housing market correction must be put into place and here is where we stand today in February 2023. Lean on a trusted advisor and professional realtor. Click link to learn more about housing market correction. /HOUSING-MARKET-CORRECTING---32819---32836---Dr-Phillips-6-22828.html
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, real estate decisions are increasingly being drive 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. So don't let this shifting housing market delay your dreams, date reveals homes typically appreciate over time and that gives your net worth a nice boost. Tik Tok Kevin Strawter each Friday for a highway of information. 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 of your real estate needs. Click link to learn more about /ABOUT-KEVIN-STRAWTER-P-A---MRP--GRI--ABR-6-14330.html