1. HOME SALES VOLUME IMPROVES JUNE 2020 BUT...
  2. JUNE HOME SALES VOLUME:
    (Chart by select Cities)
  3. JUNE CHART STATISTICS FROM THE MLS
  4. SELL NOW TO AVOID GETTING CAUGHT IN A MARKET DOWNTURN
  5. CHART OF HOME SALES VOLUME BY SELECT COUNTIES APRIL 2020 OVER 2019
  6. HOW A REAL ESTATE MARKET DOWNTURN WILL DEVELOP IN FLORIDA

HOME SALES VOLUME IMPROVES JUNE 2020 BUT

Year over year home sales volume improved to near normal activity compared to 2019. The number of homes for sale in the cities we reviewed remains below average by roughly 25%, which is helping to keep home sales price up. As of now, The virus is coming back strong in florida. As of 07-11-2020, the Florida Virus Count is: 254,511. That includes all cases, past and present, but the fact that it's hitting Florida so hard will likely cause showings to go back to primarily virtual showings with in person showings saved for buyers who are more than casual about seeing your house.




FLORIDA HOME SALES VOLUME CHART YEAR OVER YEAR:


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JUNE 2020 CHART STATISTICS FROM THE MLS:



SELL NOW TO AVOID GETTING CAUGHT IN A MARKET DOWNTURN:

There are several factors present that can create a market downturn in Florida and elsewhere. Data shows that a market downturn can start sometime in October. It's a moving target. If the economy keeps improving, a downturn may be delayed or averted. We hope a downturn is averted but with the virus coming back strong in Florida and elsewhere, it might cause the economy to suffer.

Factors that will create pricing pressures:

  • FORECLOSURE BAN WHEN LIFTED
  • EVICTION BAN WHEN LIFTED
  • MANY NEW LISTINGS FROM SELLERS WHO DELAYED BECAUSE OF THE VIRUS
    (more available inventory)
  • CREDIT TIGHTENING HAS TAKEN PLACE BY THE LARGEST LENDERS
  • INCOMES ARE DOWN FOR MANY PEOPLE
  • MARKET VALUES HAVE GONE DOWN IN OTHER STATES CRIMPING SOME BUYERS

FLORIDA HOME SALES VOLUME CHART FOR MAY 2020 (Select cities)


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SINGLE FAMILY HOMES SALES VOLUME BY COUNTY APRIL 2020

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RELATED ARTICLE:

HOW A REAL ESTATE MARKET DOWNTURN WILL DEVELOP IN FLORIDA



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