In general, real estate sales are rising, however, the market in Florida has been rising substantially within the past couple of years. Free Home Values, a website dedicated to helping homeowners find and compare home, auto, and various other insurance policies, has extensively studied this market. Below is an update on their findings.
Sales are on a Rise: According to the Florida Association of Realtors, since 2014 there has been an 18.6% increase in closed sales, while cash sales has seen a 3.7% change. What this means for sellers is in this market, if their property is priced correctly they could see a significant appreciation in their property.
More Available Inventory: Currently, the real estate market is in an ideal place. The inventory level of available homes and condominiums is at an all-time high, in a variety of price ranges. However, interested buyers must remember, with rising sales the available inventory level is bound to get lower. Buying now is definitely the optimal decision for motivated buyers.
Lower Mortgage Rates: Despite how bad the real estate market was previously, currently, mortgage rates are still lower than the 1960 rates. A buyer’s financial power is greatly increased by lower rates, as even half a percent can make a noticeable difference. Thus, allowing buyers to achieve a bigger home for the money, a perfect scenario for families looking to upsize.
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Shopping around for insurance quotes is not a difficult task at all, as you can do it easily from online with a free home value estimator. You can get the best insurance coverage with the best rates by visiting our website. We can help you find and compare auto, home, life and health, homeowners, and renters insurance online.