August Housing Trends

According the newly released report by the Commerce Department, August NEW home sales climbed to the highest level seen in a year. This news comes coupled with the fact that the median home prices dropped in August; but this is still great news. Any upward movement in the home market is welcome and should be positive news for everyone. Sellers and builders may be forced to lower prices but it won’t last forever and it will help the economy move in the right direction.

I can personally attest to the fact that new home sales have increased. We have seen an increased number of buyers interested in our new homes and lots. We feel that we are moving in a very positive direction and think that while it may move slowly it is still positive movement. This month we were able to sign a few contracts.

On another note, the exiting sales fell for the existing home market. Will it be a trend or is it due to the season? Regardless, sellers need to lower their prices. It is common sense that if new home prices are going down; prices for existing homes must do the same. I know it can be difficult to be inclined to sell a home for a much lower value than was expected but to get the economy moving it will have to be done.

Florida Home trends