Real Estate Market Pulse | Who’s Market is it?
As we continue to see the ever changing real estate market take a positive turn upward, some people are asking themselves what to do in these times. Based on recent home sale statistics, homes are being sold at a much faster rate than we have seen in years. A healthy real estate market usually has about 6 months of supply at any given time. Today we have seen that number cut in half, and the shelf life of homes for sale has dropped to about 69 days. A clear sign that the real estate has shifted to a seller’s market . August 2012 posted numbers for existing home sales that surpassed 9% increases from this time last year! Chief economist of the National Association of Realtors, Lawrence Yun said, “The Florida market is experiencing inventory shortages, which are placing pressure on prices.” This shortage of real estate inventory could lead to other advantageous recovery factors like new construction projects, which in turn stimulates the market with job growth. Lending conditions...