Pensacola Beach Real Estate Market Report
Inventories and days on the market have been on the rise in the greater Pensacola area.
At seven months of supply it becomes a buyer's market and at five months it is a seller's market. Six months of inventory proves to be a strong and balanced market. We are down to 6.71 months of supply, which is lower than the previous month's supply of 6.9.
Priceson listings seem to be on the climb, so we will monitor how that affects the market in the upcoming weeks.
The Pensacola Beach home supply is higher, which means that there are deals to be had on the beach.
Interest rates have fallen one fouth of a percent after a one and a half point surge over the last few months. There is a great opportunity to jump into this market with good rates and a solid inventory.
Government Shutdown
You should be alright as long as you have your loan commitment from the bank. But, some of our clients were not able to get their loan commitments in before the shutdown, which means that they have not recieved your transcripts from the IRS. You can stuggle to recieve a pre-qualification at this time if you work for the government or have a shutdown sensitive job.
People going the conventional route with 20-25% down should be okay to go along with the purchase process without any glitches.
At Keith Furrow and Associates, we are a team of professional and experiences Realtors. This is important to have during the turbulent economic times.
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