Why Are Home Prices Rising So Fast

It has been my pleasure to help many of you buy and sell homes in the past 19+ years. I’m going to ask your help today in referring anyone you may know who is looking to sell their property in Sarasota or Manatee Counties. The local market is so hot that we have only a 20 day supply of homes where we traditionally have a 180 day supply. Check out the local housing market data.

There are many factors responsible for the housing inventory shortage, listed below are the top five:
1) New home builders can not keep up with demand because of labor and material shortages, putting a strain on the home resale market.
2) Computer chip shortages are affecting the delivery time of major home appliances for new home builders. This supply shortage is reducing available inventory.
3) Historically, low-interest rates have motivated many would-be renters to decide to purchase a home. The interest rates have helped create more buyers than available homes for sale.
4) A population shift due to COVID-19 where many people can now work from home. If you can work from home, why not live in sunny Florida?
5) Retiring Baby boomers leaving the high cost of Northern urban areas for a more affordable cost of living.

Now may be a perfect time for someone you know to either upsize or downsize the home they are currently living in. I would be available for a free home value consultation to discuss a possible sale. Please use the contact me form or call (941-799-9440. Thank you for the opportunity to help with your real estate needs.