Sarasota Real Estate Market Minute
This is a brief real estate market update for Sarasota and Manatee counties
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Last Wednesday the Mortgage Bankers Association said that the number of applications for home loans jumped to an 11 year high. Freddie Mac’s chief economist said that the rebound in the economy is uneven but the housing market recovery is strong. He said “Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009.”
Realtor.com’s Housing Market Recovery Index reached 90 nationwide. That indicates that the U.S. market is about halfway recovered based on the levels from January 2020.
If you are thinking about selling your home, now is the time to get it on the market! Demand is high, rates are low and competition from other homes is still low. Homes are selling quickly in Sarasota – many times with multiple offers. The number of homes under contract last May matched the 2019’s number.
If you are considering buying a home, don’t wait. Act now while rates are at an all-time low. Inventory is a little low so it may take more time to find your perfect home, but you will find it. As inventory increases and investors get back into the market, mortgage rates will eventually begin to rise. And prices may begin to rise in our area as demand increases to even higher levels.
#realestatemarket #sarasota #sarasotarealetate #victoriaranck #daveranck
▬ About Victoria and Dave Ranck ▬
We are Realtors in the Sarasota, Lakewood Ranch and Venice areas of sunny Florida.
► Website: https://victoriasellssarasota.com/
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