Palm Beaches Real Estate Blog

Demand for Homes to Buy Continues to Climb

Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market.

According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.

NAR’s Chief Economist Lawrence Yun had this to say,

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s

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Florida's tax code is the fourth most competitive in the country, according to a study released Tuesday by nonprofit group Tax Foundation.  Read the full story here from the Tampa Bay Times.

Florida Has fourth-most competitive tax code

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After a brief hiatus in August, we’re thrilled to be back with you as September ramps up with a full schedule in the Palm Beaches that’ll keep us busy (and well-fed) throughout the month.

The “well-fed” part comes from the month-long “Flavor Palm Beach” event. All month long, top restaurants and bistros are offering amazing three-course meals set at fixed prices. With over 50 restaurants – from Jupiter to Boca Raton – participating, it’s an excellent time to try new locations or revisit favorites. Go to this website to make reservations and plan your entire gastronomical journey through the Palm Beaches.

While you’re making your September journey, there are several stops along the way you’ll want to be aware of. For example, every Thursday evening

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LOS ANGELES – Nov. 14, 2016 – While most people consider spring the prime home buying season, the market calm over the holidays is just one reason dedicated buyers can benefit from end-of-the-year home shopping:

  • Buyers have more time to shop, as time off from work and school is not uncommon with many buyers during November and December.
  • Tax benefits. Many buyers in the market for a new home feel as if they have to close escrow prior to the end of the year for tax planning reasons.
  • The holiday season is a great time to showcase the neighborhood. Many homes are decorated and look their absolute best. And a seller's home often has its most nostalgic emotional appeal during this time period.
  • Less competition. Many sellers pull their homes
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The answer is yes and no... let me explain. Statistically, the affect is minor, with sales decreasing slightly during election years and home prices increasing just a little less during election years.

However, the reasons for these results are not believed to be economical, but social, and result from "consumer confidence". 

The unknown of a presidential election year puts stress on the average home buyer, and they often hold out on such large expenditures until the economy and the unknowns, including who may be running the nation, are settled. 

Adding to this consumer uncertainty is how close a race is, such as what we are seeing so far this year.

So, the affects of a presidential election have been minor enough historically, that it should not

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If you’re buying, please remember that your credit is monitored until the day you’ve actually purchased your home.

This may seem obvious, but I’ve heard plenty of stories about delayed or canceled closings because a buyer made a large purchase or changed jobs just before their closing.

Great agents know how to help their clients get what they want.

Don’t forget that we're here to pave the way for you. When you’re ready to talk about this, please call!



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