Latest from the Blog
- Buyer Purchasing Power Up $33,000+
Lower mortgage rates have increased the purchasing power of buyers by an average of more than $33,000 from one year ago. That is almost a 7% increase from last year. Increased home prices, however, are negating that increase in purchasing power. Home prices have seen average increases nationally of over 8%. Please contact Ed Curry at 941-799-9440 if you are thinking of purchasing or selling a home.
- Millennials Help Keep Home Sales Strong
20 and 30-year-old buyers are helping to keep the home sale market strong. More than half of new mortgages were made to this demographic according to Realtor.com. Millennials have now surpassed Baby Boomers as the largest adult group in America.
- Americans Are Saving More Money $$$$
A recent survey of 5,000 Americans indicated that people are saving more than before the COVID-19 outbreak. Almost half of those surveyed said their spending has decreased. People working from home are saving on commuting costs and that may be one of the reasons. Additionally, with millions of unemployed, people are feeling a need to increase their reserves.
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