If you're going to sell
- HOME SALES VOLUME DECLINES 33-to-44%
- SELLERS ARE NOT UNDER PRESSURE
- CHART OF HOME SALE VOLUME BY SELECT CITIES: APRIL 2020-2019
- CHART OF HOME SALES BY SELECT COUNTY APRIL 2020-2019
- HOW A REAL ESTATE MARKET DOWNTURN WILL DEVELOP IN FLORIDA
HOME SALES VOLUME DELCINES AGAIN: 33% -to-44%
May 2020 was another low volume month for SOLD Single Family Homes. For the month of April and now May, Real Estate SOLD volume is way off, but prices in Southwest Florida have not declined. The SOLD volume of single family houses fell sharply (see charts below).
FEWER HOMES LISTED FOR SALE KEEP PRICES STABLE
Once the volume of houses listed for sale returns to normal, the other pressures in the market will cause prices to decline. I read a lot of real estate related articles. They
all have a postive outlook for the real estate market but it doesn't make sense to me. The credit tightening
by top lenders along with all of the other economic issues we're facing puts the odds in favor of declining home prices.
Lenders do not have high confidence in the real estate market which is why they tightened credit. The problem is, it will prevent many buyers from being able to get a mortgage.
Assuming that the economy doesn't rocket back, it doesn't make sense that Real Estate can stand alone as the shining light of our economy.
HOME SALES VOLUME DECLINES AGAIN: MAY 2020
SINGLE FAMILY HOMES SALES VOLUME
BY COUNTY MAY 2020
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HOW A REAL ESTATE MARKET DOWNTURN WILL DEVELOP IN FLORIDA