Real Estate Pulse from Tampa Bay
New Home Sales on the Rise Due to Pandemic New stats have come in via LinkedIn that shows an interesting real estate market trend. New home sales have jumped a whopping 55% since last year. This is a HUGE increase! We are observing that more and more people are taking a preference towards less congested areas with their own living space. This is not only due to COVID and the lockdown, but many millennials have begun to settle down and have families. The mortgage rates also have increased buyer interest in homes of all types! New construction homes are gaining more popularity as well for the following reasons: 1. There is limited inventory as many occupied resale homes have been pulled from the market due to Coronavirus. Sellers do not want showings in their homes while they are still occupied which is understandable. If the home is vacant, by the time buyers submit their offers, the home of interest is already under contract. 2. The Millennial generation is beginning to tran