Home Prices in Sarasota, Florida for Summer 2013
Real estate market data for Sarasota, Florida provided by Marnie Matarese
I receive a montly update from a Credit Suisse survey of realtors that shows home sales remaining high in July, 2013 but prices increasing....
One of the issues that is most pressing is that the
inventory continues to remain low but the modest bump in mortgage rates is slowing buyers in their efforts to submit contracts. They are now hoping that they have not missed the best of the lending rates but if they continue to wait, expecting a drop again, I fear that they will be completely priced out of the market here.
The results of the August, 2013 survey are below:
As retirees are looking for a place right now, they are more likely to purchase and not concern themselves with the interest rates but younger people are still looking for that downturn in rates that may not happen.
What does this mean for you if you are a buyer? It is time to get off the fence if you are serious about owning a home in Florida and purchasing while interest rates are still low. The inventory has been greatly reduced and the prices are inching up.
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