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Every Day Someone comes up to me to ask how the market is doing.

Well these are the current national numbers. Cecilia Chin,  senior direction of Moody's Analytics expects existing homes sales will reach 5.3 million annualized base this year which is a little above where it is now meaning we're going to have a little bit of a spurt from now to the end of the year. Next year, Cecilia said, sales should reach 6.5 million and housing starts, new construction, could hit one million.  As for our market here locally, 7723 homes have been sold, per our MLS, in Sarasota County since 1/1/2011.  That is 26 homes sold everyday for each day this year.  This doesn't incorporate private sales, outside of MLS.  This figure represents a 6% increase in the amount of homes sold in the county over last year. 

So if you are a buyer and believe in the buy low sell high motto, you should probably just go for it.  The interest rates are at all time lows, inventory is still good and it looks like financing options in the next few years are not going to be as lenient as what we have come to expect.  If you're afraid that your going to lose money long term, all you have to really ask yourself is if you plan to stay in the home more than 6 months because by the middle of next year houses are going to start appreciating again. At least that's what the leading 107 economists in this country think.

I hope this information is useful for those "on the fence" or just wondering what is going on in real estate these days.  It's not as bleak as you might think.  If we can answer any questions, don't hesitate to call or email us!

Janet Thomas

Venice Hometown Realty

Some Material Provided by KCM-October 2011