SHIFTING HOUSING MARKET

A shifting housing market refer's to changes in the dynamics of buying and selling homes, which can be influenced by various factors. Here are some key elements that characterize a shifting housing market. Supply and demand, changes in the number of homes available for sale (supply) and the number of buyers looking to purchase (demand) can lead to price fluctuations. An increase in supply with stagnant demand can lower prices, while high demand with limited supply can drive prices up. Buyer preferences, this can cause a desire for more space due to remote work or a focus on sustainable living can impact demand for certain types of properties or locations.

Seasonality is due to the housing market often experience seasonal fluctuations, with certain times of the year (like spring and summer) typically being more active for buying and selling homes rather than the winter time.

Demographic changes includes population growth, aging populations and migrate patterns can influence housing demand in specific areas. With inventory levels showing an increase in the number of homes for sale (high inventory) may suggest a shift toward a buyer's market while a decrease in inventory (low inventory) often indicates a seller market. 

In a shifting housing market price reductions may suddenly come from a versed seller in a housing market that signals a shift. Just as a seller that would need to adjust expectations to attract buyers. 

Buyer sentiment can influence other buyers with increased caution or hesitancy can signal a shift in the market as buyers adjust their expectations based on economic or market conditions. Social media can also influence consumer behavior, with customer engagement responding to comments and messages creates a sense of community and connection. Consumers are more likely to try products that are popular or endorsed  by their social circle. Overall social media shapes consumer behavior by facilitating communication, influencing perceptions and creating a dynamic marketplace where brands and consumers interact continuously. Click link to learn more about housing market issues /HOUSING-MARKET-ISSUES---32819---32836---Dr--Phillips-6-24810.html

ECONOMIC CONDITIONS

Changes in mortgage rates can affect buyer affordability and demand. Rising rates may cool a hot market, while falling rates can stimulate demand. With higher rental demand can indicate the potential buyers are opting to rent instead, affecting the overall housing market. With changes in mortgage rates the interest rates can affect buyer affordability and demand. Rising rates may cool a hot market, while falling rates can stimulate demand. Economic conditions can cause changes in home prices, a noticeable increase or decrease in home prices over a specific period can signal a shift. Rising prices may indicate a seller's market, while falling prices can suggest a buyer's market. 

These conditions affect days on the market for a home for sale with an increase in the number of homes for sale (high inventory) may suggest a shift toward a buyer's market, while a decrease in inventory (low inventory) often indicates a seller's market. This may take much longer to sell a home. It is necessary to find a trusted advisor and or realtor that has a pulse on the local housing market. Word on the streets interest rates will  lowered and be announced on September or 18th 2024.

TRUSTED ADVISOR

As a trusted advisor, professional realtor and military veteran I am here to serve you in the Dr. Phillips and Central Florida housing market, whether it is selling for home or for the purchase of your home. In the absence of trustworthy information whether it's a housing crisis or local housing market, real estate decisions are increasingly driven by fear, doubt and uncertainty. 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 about the local housing market trends, pricing inventory level, buying information on the buying and selling process to include common terms and videos. It is important to keep up to date on the local housing market trends, don't get confused with the media, they talk national level, I can provide the most up to date local area data.

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