I know, this is not the headline that anyone wants to see right now, but it shows that mortgage interest rates and the so called “FED Rate” are not in lock step. Have a look at the video to hear the economist explain what is going on at the national level.
Last Tuesday, during our weekly Real Estate Round Up, it was reported that in Lakeland, Florida, there is still a 36% shortage in available houses for purchase, the year-over-year average closed home pricing was up 6.88% frin the previous week and the number of listings with a price decrease went down by over 50%. All of these factors point to a definite “sellers market” locally.
The election is only about 3-weeks away now and real estate activity is poised to increase. After the votes are counted there will no longer be any uncertainty about the results and families will be able to plan their finances knowing, or making assumptions about, the fiscal policies of the future presidential adminstration. If you haven’t already done so, you may want to read the “Save Now. Save Later.” blog that posted recently for insights into why buying real estate in central Florida now might be an excellent choice.
Follow us on YouTube and our social media channels (see the links at the top right of the screen when on the PC, and at the bottom of the hamburger menu on mobile devices) for up to date information about the current housing market in central Florida, and to pose your questions when they arise - we are here to help you.
Written by
Jared Weggeland
Realtor
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