Looking forward, upward price pressure seems likely to continue at least through the fall, thanks to the large inventory deficit. Purchase demand is holding steady at high levels, reflected in strong pending sales data, perhaps due to delayed purchases from earlier this spring and summer. Given that the housing market typically begins to cool off by late August, this stable volume of sales looks even more impressive: pending sales were up a whopping 23.3% year over year in the week endingSeptember 12.
The Fed expects to keep interest rates near zero through at least 2023, and allow periods of higher inflation, in an effort to revive the economy.
"American home shoppers faced an historic shortage of listings to choose from this summer, and that scarcity is now reflected in rapidly appreciating home values after a sluggish start to the home shopping season this spring," said Zillow economist Jeff Tucker. "Builders are racing to catch up with demand, and rising prices should encourage more potential sellers to come off the sidelines and list. Still, the shortage of inventory should keep housing markets unusually tilted in sellers' favor this autumn."
My focus is to best understand the goals and visions of my clients, ensuring all decisions are made with a wealth of information and the necessary tools for a successful, rewarding experience. I have found my “Slice of Heaven” I look forward to you finding yours!
Kathytoonder@gmail.com http://www.sellingsarasotarealestate.com Have Questions? Call 941-544-7270
Author:Kathy Toonder Phone: 941-544-7270 Dated: October 6th 2020 Views: 1,200 About Kathy: I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s...
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I enjoy walking the warm sandy beaches, swimming and watching the magnificent sunsets on Florida’s Gulf Coast. Thirty years ago I came from Michigan to the Sarasota area to enjoy the beaches of the Sunshine State. The “Beach Communities” Longboat Key, Lido Key, Siesta Key and Casey Key are what draw everyone to make Sarasota their home!
Sarasota the “Cultural Capital” of Florida attracts homeowners that want more than just a beach experience. Sarasota and Manatee communities with the growth of new housing maintain their elegant but laid back style. It is a great place to make it your home to be able to enjoy lush natural environment and the amenities of a modern city.
I became a home owne r in Lakewood Ranch an award winning 17,500 acre site that provides a beautiful master planned, maintained and golf community. Get the picture: blue waters, white sand, plenty of sun, blue skies, fabulous food, casual outdoor dining, amazing fishing, play golf, boat races, music and art festivals….
My focus is to best understand the goals and visions of my clients, ensuring all decisions are made with a wealth of information and the necessary tools for a successful, rewarding experience.
I have found my “Slice of Heaven” I look forward to you finding yours!