Market Is Leveling Out, FINALLY

This week’s blog is about a recent article by CNBC discussing the market turning towards a possible housing recession. According to the article, “Sales of existing homes were down last month by 20.2% to 4.8 million properties from 6 million a year earlier. However, the median price last month was $403,800, up 10.8% from July 2021, and homes are still selling quickly.” What does this mean for prospective homebuyers? Well, inventory has been improving and prices have held. As far as those who plan to sell their houses and move down to Southwest Florida, CNBC says “’Sellers need to be realistic about the changing market,’ Yun said. ‘They cannot expect to simply list their home at a high price and easily find a buyer.’” This being said, homes are still selling almost as quickly as they were a year ago. Overall, we would say that there is still a lot of opportunity for buyers and sellers in this market. This article may temper some of the expectations people may have developed over the last year, but don’t expect a nosedive any time soon. Here at Southwest Florida Dream Builders, we have noticed a slowing of materials price increases, and that’s good news for everybody!

We are in our model at 878 Boundary Boulevard in Rotonda (that’s the corner of Rotonda Blvd. East and Boundary Blvd.) from 9-3 Monday-Friday. If you would like to know more about land or homes in the local area, be sure to stop by and save a spot for your dream home today!