Local Market Winds Have Shifted Again
I have been involved with real estate since I was a young lad growing up on the banks of the Mississippi. My grandfather was a contractor, my father was a contractor and I was a contractor. Still love building but selling just seemed a better fit for where my true passions lie. Trying to understand an ever changing market is a game of enjoyment than never ends.
The local real state market we are faced with today is much like the overall economic climate. This is weather nobody has ever experienced. Property has gone from the dream of owning your own home to a trading game like a stock, a bond, or any other commodity. Too bad in many ways that the home is no longer where the heart is but instead where the wallet is.
One on the best forecasting tools we use to guage the weather ahead is pending home sales as they are a direct barometer to sales levels over the next two to three months. Finally after 9 long months of pretty much straight line declines we have had a strong reversal in the winds. It is the importance of these numbers to our clients and their ability to make educated decisions that causes us to look at them in detail every two weeks. Frankly a once a month review is not enough.
As of this morning, pending home sales in Tequesta and the entire north county region are up strongly. Up another 12% on the heels of the 15% spike we happily reported just 30 days ago. Up just shy of 30% since the lowest levels in well over a year that we sadly reported just two months ago today.
These are very, very strong numbers and we are now over 6 weeks into this reversal that is welcomed news for a market that had been tiring. Seasonal trends, falling interest rates, better choices have been the driving forces. For a complimentary consultation on how this strengthening market may effect your real estate holdings please give us a ring. As we tell each of our clients you can pay more and receive less but that just would not make any sense.
Paradise Sharks Real Estate
Direct Line 561 308-0175