Hello Central Ridger’s. As mentioned in my last couple of posts, I am using this forum to discuss national trends that effect the Central Ridge. With that being said, I came across this collection of six graphs that show strength in each measurable which bodes well for the national market. And when the national market fares well, the Central Ridge should perform also since most of our buyers are coming from other areas of the country.
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I apologize that the graphs are hard to read but you can get the general idea and I felt that it was important to show the strengths of these measurables.
EXISTING HOME SALES
As you can see the first is overall sales since 2014. Not over the top as in previous years but still close.
DAYS ON MARKET
Most states it is ridiculously low. Florida is a bit
longer but in the grand scheme of things, the days are at all-time lows.
MONTHS OF INVENTORY
In my opinion, this is the most important number in any
market. I could go into any neighborhood and tell you the health of the market
as soon as I have this number. FYI- 6 Months is a neutral market, anything
below is a sellers market and anything above is a buyers market. As you can
see, the national average is 4.2 Months. That is a sellers market.
MORTGAGE RATES
There is not much to say on this one. Money is almost
free.
FICO SCORE DISTRIBUTION
As you can see, a great percentage of people have the
required score to purchase a home.
MEDIAN ASKING RENT
As rents rise, more and more renters want to become homeowners.
This is also a positive for the housing market.
As you can see in the above graphs, the housing market is trending positive. There is very little inventory and rent is going sky high, plus there are more and more millennial’s that are turning 30, starting a family and want to become home owners. This will keep demand high which leads to a healthy market.
If you are looking to sell, please give me a call to discuss my MARKETING STRATEGY that is proven to get you the most money in the least amount of time. I am passionate about helping you through the process and that means answering my phone, returning phone calls, and spending the time needed for a successful transaction. Call me today. 352-422-5297
