Will The Election Impact The Destin Florida Real Estate Market
Over the past couple of months local buyers and sellers have asked how I thought the election would impact the Destin Florida real estate market. These days everyone's crystal ball seems a bit foggy, so here are some thoughts/observations.
1) The election noise slowly intensified from August on-- I speak with Destin Florida home sellers and buyers every business day. Especially the last week (as expected) the election has dominated our conversations.
But, did homes STOP selling? In the past week, 312 homes have successfully closed escrow. Even in one of the most aggressive political seasons of recent memory business was still conducted.
2) Business folks tend to view a Trump Presidency in a favorable manner-- The first rule of real estate sales is NEVER bring up politics. The number of area buyers and sellers who have shared their thoughts with me support Trump.
3) The local economy is diversified-- Of course tourism is important (have you seen our beaches), but there is a HEAVY government footprint. In addition Destin is a hub for the surrounding area. Thus, real estate dollars invested locally have a lot going for them.
4) Interest rates are the larger story-- For a second home market, the cost to borrow money is a critical factor. For a while rates were declining, but have floated back up of late. While the crystal ball is fuzzy, I predict a reduction of rates would result in a MASSIVE influx of transactions due to pent up demand.
The next month will be telling. Even buyers and sellers holding off until 2025 will start planning. Will be interesting to see if there is an uptick in online traffic and calls.
A Closer Look At How The Election Impacted Destin Florida
The key to real estate sales in ANY market is having an aggressive agent. Call Doug Rogers (318) 613-1994 with RE/MAX Coastal Properties TODAY! Want to see how your home compares to the competition? Go to Destin Florida Homes For Sale to review properties on the local MLS.
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