CENTRAL FLORIDA SPRING HOUSING MARKET

Central Florida spring housing market of 2024 have been already showing good signs of more homes coming on the housing market. Specifically economist reports there were 20.6% more homes up for sale from the sweet spot of 200,000 up to 350,000 in February 2024 reference a year ago. Overall expectation for spring of 2024 that we already see a rise in our housing inventory, however demand outweighs supply which many can still see it relatively as a seller's market. The strong demand in the large millennial population perks up the prime first time home buying range. Truly we are in the best of both worlds now as we speak, we are entering the spring to the peak home buying season as interest rates has cooled March 2024.

Home buyers need to fine tune their credit scores and home sellers prepare homes to list for sale. Attractive prices and well dressed homes will move quickly and may even create a bidding war. So be prepared to put your offer in with your realtor because you will definitely have competition. I has bee noted that a great portion of millennial population has purchased many homes since the beginning of the pandemic. This was the best opportunity for anyone to purchase a home as for interest rates were low as 2.2%. Many homebuyers that sat on the fence had buyers remorse that missed the opportunity. 

MORTGAGE RATES

Mortgage rates decision in March 2024 was to hold rates where they are currently at. These rates can vary depending on  various factors such as the lender reputation, borrower's credit score, loan amount, term, and current market conditions. These rates can be fixed or adjustable. It's best to shop around for the best mortgage rate based on your credit score, this will give you a clear understanding of the cost of the loan. When shopping here are a few things to consider when locking into a lender, of course your interest rate, loan term which can be 15 or 30 year loan, loan type fixed rate or adjustable rate, closing cost and pre-approval. Lean on your trusted adviser that should have several resources to help you.

TRUSTED ADVISOR

As a trusted advisor, professional realtor and retired military veteran I am here to serve you in the Dr. Phillips and Central Florida housing market whether it's purchasing or for the sale of your home. In the absence of trustworthy up to date information real estate decisions are being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community to ensure you are making the right decision. 

Part of my job is to keep you informed and educated of the local housing market trends, pricing and inventory level. Buying and selling process to include common real estate terms and videos. It is important to keep updated on the market trends and don't get confused with the media, they talk national data, I can provide the most up to date local area data. 

So don't let this shifting housing market delay your dreams, data reveals typically appreciate over time and that gives your net worth a nice boost. When you are looking for a realtor, look for your realtor with the heart of a teacher. If you are ready to start your journey contact Kevin Strawter at 850 496-6412 to begin a new walk to homeownership and all your real estate needs. Always taking referrals.