The city of Ocala, along with the whole of Marion County at present, has a very high housing inventory level , which amounts to approximately a 12-month supply of homes. This present scenario is one of the major causes for the drastic price reductions in home prices.
There have been movements seen, however, which indicate a slowdown in the reduction of home prices. With the housing market here showing directions of hitting the bottom, and as the mortgage slump affects all aspects of the housing industry, real estate market observers are saying that now would be a good time to purchase new homes, as interest rates are still pegged at one of their lowest levels.
Current Home Construction Figures For Ocala
Based on current data provided by local property market veterans and county building officials, new construction rates are still slow at present; however, a number of property developers and builders are indicating that they will slowly pick up the pace and will continue to build homes this year.
Home builders here are still seen offering great incentives to buyers, which would include paying your entire first years HOA fees, taxes and insurance, closing costs, and some even offer buyers bonuses such as home appliances, lawn mowers, appliance upgrades and more. This move is indicative of being the perfect time to ponder on make a home purchase. In addition, new home builders have also drastically reduced pricing on inventory homes, in order to lessen the number of unsold home inventories these days.
Home Resales Statistics For The City
Home resales figures in the Ocala and Marion County have continued to see increased activity, particularly today that prices have slid even further. Many home sellers now seem to realize that the prices of 2005 are history, and if they will not be aggressive in pricing their homes, they may truly be wasting their time and investment. Each year, thousands of new residents are attracted to this area , lured by the region's healthy economy, excellent quality of life, diverse recreational activities, pristine environment, and the wide array of shopping opportunities.
The number of residents coming to this city, and county, makes it among the three fastest growing areas in the nation. The county's welcoming atmosphere makes transitions easy, and the wide array and affordability of housing options ensures that the types of homes here will suit every home buyer's preference, lifestyle and budgets.
Located 80 miles north of the Greater Orlando Metro area, Ocala is considered by many to be a wonderful place to live and call home. The county is famed for having lush rolling green fields, horse farms, wooded forests, lakes, springs and rivers.
For residents here, outdoor living is a daily activity for many, as the county is home to a host of fishing, boating and outdoor sports enthusiasts. Residents here also have easy access to top-notch medical facilities, shopping centers, industries, arts and culture venues, historical landmarks, and lots of parks and forest areas. It also has a lot of affordable housing options that offer a wide inventory of homes to choose from.
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