Did you notice?
Florida Home prices are still rising!
It is a simple fact. There are more home buyers in the market right now than there are available homes for them to buy.
This is the theory of “supply and demand” at work.
Which is defined as:
“the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”
When demand exceeds supply, prices go up. This is currently happening in the residential real estate market.
Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available):
Supply & Demand – Florida Housing Market
In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has decreased. If this situation persists, home values will continue to increase.
The reason home prices are still rising is because there are more purchasers looking than there are homes to buy, but very few homeowners are ready to sell. This imbalance is the reason prices will remain on the uptick.
It’s a good bet that home prices and rates are not going down and both have a strong chance of going up over the next year.
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Lee Walsh 407-459-4119 or Click Here