STOP, LOOK and LISTEN–The Real Estate Market in The Villages and Ocala area is Rockin!

How many more articles and blogs do we need to send your way to help you as a consumer understand, this is the real estate market we have been waiting for.  Inventory is low and homes are selling with multiple offers.  The homes here in The VillagesFL  are seeing a price increase and Summerfield and Ocala area is following right behind.

In 2012, economist say that for the last 5 years homes sales kept moving upward. Existing home sales and new homes sales remarkably improved according to the National Association of Realtors

“Housing has historically led the U.S. economy out of recessions. That didn’t happen this time, and it’s one reason the economic recovery has been weak” says David Crowe, chief economist for the National Association of Home Builders

It is now contributing to the economy’s recovery from recession. Though the road to recovery is slow, it will start to get normal as prices increase for newly built home as well as existing homes that includes furnishings, appliances and beautiful interior and landscaping according to Crowe.

Home sales — and prices — are being driven higher by:

— Interest rates. They averaged 3.38% for a standard 30-year-fixed rate mortgage for the week ended Jan. 17. Average interest rates for 30-year-fixed loans have been below 4% for the past 14 months, Freddie Mac data show.

The low rates, along with home prices that fell more than 30% from their 2006 peak, has vastly improved housing affordability.

— Job growth. The unemployment rate stood at 7.8% in December, down from its peak of 10% in the fall of 2010. A better job market is enabling more people to move out on their own, which is driving housing demand. Net household formations topped 1 million in each of the past two years, Sonders says. That’s more than twice the level of 2009 and 2010.

— Falling supply. The supply of homes for sale in December fell to 4.4 months, based on December’s sales pace, the NAR says. That’s the lowest level since May 2005. Supplies are dwindling in the face of rising demand, fewer foreclosures and reluctant sellers.

Not all economists see brighter days ahead for housing, given what market researcher CoreLogic says was a 7.4% jump in home prices in November from a year earlier.

Higher taxes and cuts in government spending, along with still-tepid job growth, will weigh on the market this year, says Steven Ricchiuto, chief economist for Mizuho Securities.

Interest rates, too, aren’t likely to go lower unless the economic recovery falters. The low rates have already sucked in home buyers who were waiting to buy, he says.

“You’ve probably already seen the best of the housing recovery,” Ricchiuto says. (http://www.usatoday.com/story/money/business/2013/01/22/home-sales-2013-outlook/1855849/)

Data shows the trends in sales for the past 5 years and this indicates the prices for each of the properties being sold.  You can see that prices vary every year. This is the best time to look at properties for investments or purchase beautiful homes since mostly are priced low.  As the sales increase the price will also move up so take advantage of this time of the year.

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