Southwest Florida Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Aug. 28, 2020

Even with Covid 19, wait till you see what the real estate market is doing!

Terry and Laurie Carlson | Century 21 Sunbelt Realty



Homeownership Rate Continues to Rise in 2020

Homeownership Rate Continues to Rise in 2020 | MyKCM

 

So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home.

Yesterday, the U.S. Census Bureau announced:

“The homeownership rate of 67.9 percent was 3.8 percentage points higher than the rate in the second quarter 2019 (64.1 percent) and 2.6 percentage points higher than the rate in the first quarter 2020 (65.3 percent).”

Homeownership Rate Continues to Rise in 2020 | MyKCM

The increase is also represented by race and ethnicity of the householder:Homeownership Rate Continues to Rise in 2020 | MyKCM

There are many reasons why the homeownership rate in this country is rising, and one of the key factors is historically-low mortgage rates. Rates hovering at all-time lows are helping to drive affordability and enabling more potential homeowners to enter the market today. According to Ralph McLaughlinChief Economist for Haus:

“Mortgage rates are the icing on the cake for households that were thinking about buying...They found an unexpected opportunity during the worst economic downturn America has seen since the Great Depression.”

In addition, many potential homebuyers have been using their time this year to search for homes that offer more space than their current rental apartments. Many of these homebuyers are younger and, as noted by Odeta Kushi, Deputy Chief Economist at First American, are the buyers driving the homeownership rate in an upward direction:

“Big jump in the homeownership rate today, mostly driven by younger households. We saw a spike in the number of owners, and a decline in the number of renters. This is the highest rate of homeownership since 2008.”

This growth is outstanding news for the housing market and for those who have recently found their new homes. If homeownership is on your shortlist this year, maybe now is a great time to meet with a real estate professional to evaluate your current situation. Perhaps historically low mortgage rates can help you to become a homeowner too.

Bottom Line

If you’re thinking of buying a home this year, let’s connect today to take your dream one step closer to reality.

___

Announcement from the census: As a result of the coronavirus pandemic (COVID-19), data collection operations for the CPS/HVS were affected during the second quarter of 2020. In-person interviews were suspended for the duration of the second quarter and replaced with telephone interview attempts when contact information was available. If the Field Representative was unable to get information on the sample unit, the unit was made a Type A no interview (no one home, refusal, etc.). See the FAQ for more information.

Why Is It so Important to Be Pre-Approved in the Homebuying Process?

Why Is It so Important to Be Pre-Approved in the 
Homebuying Process? | MyKCM

 

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

According to a recent survey from realtor.com, many buyers are making the mistake of skipping the pre-approval step in the homebuying process:

“Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months, only 52% obtained a pre-approval letter before beginning their home search, which means nearly half of home buyers are missing this crucial piece of paperwork.

This paperwork (the pre-approval letter) shows sellers you’re a qualified buyer, something that can really help you stand out from the crowd in the current ultra-competitive market.

How competitive is today’s market? Extremely – especially among buyers.

With limited inventory, there are many more buyers than sellers right now, and that’s fueling the competition. According to the National Association of Realtors (NAR), homes are receiving an average of 2.9 offers for sellers to negotiate, so bidding wars are heating up.

Pre-approval shows homeowners you’re a serious buyer. It helps you stand out from the crowd if you get into a multiple-offer scenario, and these days, it’s likely. When a seller knows you’re qualified to buy the home, you’re in a better position to potentially win the bidding war and land the home of your dreams.

Danielle Hale, Chief Economist for realtor.com notes:

“For ‘a buyer in a competitive market, it’s typically essential to have pre-approval done in order to submit an offer, so getting it done before you even look at homes is a smart move that will enable a buyer to move fast to put an offer in on the right home.’”

In addition, today’s housing market is also changing from moment to moment. Interest rates are low, prices are going up, and lending institutions are regularly updating their standards. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals (a loan officer and a real estate agent) making sure you take the right steps along the way and can show your qualifications as a buyer at the time you find a home to purchase.

Bottom Line

In a competitive market with low inventory, a pre-approval letter is a game-changing piece of the homebuying process. If you’re ready to buy this year, let’s connect before you start searching for a home.




1819 SW 29th Terrace, Cape Coral  33914
Under Contract!!!
We’re excited to present this newly listed, LUXURIOUS, custom pool home that is literally a WORK OF ART! This stunning, great room concept offers wood-plank look tile throughout, gorgeous wall mounted fireplace, 12 ft tray ceiling with accent lighting and 9 ft sliding glass doors. The chef in the family will appreciate the beautiful kitchen, appointed with slate/stainless appliances, easy care quartz counters and sleek, high gloss, European style cabinetry. The stunning master bathroom also offers a walk-in shower with large rain head, deep soaking tub, trendy dual vessel sinks and another lighted tray ceiling in the master bedroom. Enjoy the outdoor Florida life style by your NEWLY HEATED sparkling pool, outdoor summer kitchen with wine cooler, new black chain link fencing and BRAND NEW BOAT DOCK WITH LIFT. All assessments paid, move-in ready and quick closing possible! Nothing cookie-cutter here! This home is designed with an elegant, European flair and subtle sophistication that rivals homes that are double its price!
👉 Offered at: $539,900 👈

2447 Laurentina Lane, Cape Coral, FL 33909
Under Contract!!!
Move in ready townhome in Bella Vida for maintenance free living with new hot water heater and BRAND NEW AIR CONDITIONER with UV purification system, just in time for the HOT summer months! Over 1700 sq. ft. with 3 bedrooms, 2 1/2 baths and large den. The upstairs master suite offers double sinks, large soaking tub and separate shower. Eat-in kitchen has stainless steel appliances, cherry cabinetry and view of lake from breakfast area. Screened lanai with storage closet. Attached garage has interior entrance through laundry room. Bella Vida's beautiful amenities include pool, fitness center, community room, tennis courts and more. Easy access to down town Fort Myers River District for shopping and dining and I-75 for commuting. Just perfect for full time or vacation lifestyles!!


🚨 Offered at: $194,900 🚨



CLASSIC MOJITO

 

 2 oz. white rum

 3/4 oz. fresh lime juice

 1/2 Tbsp. white granulated sugar

 8-10 mint leaves

 Club soda, to top

 

 Tools:  muddler, barspoon

 

 Glass:  highball

 

 Garnish:  mint sprig

 

 Directions:

 

 In a highball glass, add the sugar and the lime  

 juice stirring to combine, then add the mint leaves​

 and muddle gently.  Fill the glass with ice, then​

 add the rum and top with club soda, stirring gently

 before garnishing.

 

 Sip ........... and enjoy!!


Click below to see ALL of our 5-star reviews!

Click below to get your instant home value!

 

Search all SWFL homes for sale on our easy to use website!

  

  The Terry & Laurie Carlson Team

  Premiere Plus Realty Co.

  3208 Chiquita Blvd. S., Suite #204

  Cape Coral, FL  33914

  Terry:       239-770-6955

  Laurie:     239-910-5543​

  Email:      Info@terryandlaurie.com

  Website:  TerryandLaurie.com

 

 
 
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Posted in Monthly Newsletter
Aug. 27, 2020

Don't Sit on the Couch this Weekend 08-28-2020

 

A little something for everyone -- whether you are staying in or want to venture out.

EVENTS FOR AUGUST 28 - SEPTEMBER 3, 2020

Friday, August 28, 2020

Virtual Game Night:  Trivia, Charades, and Drawing over Video by Let's Roam Scavenger Hunt Adventures

7:00 PM - 10:00 PM

Free

Tickets: https://www.eventbrite.com/e/fort-myers-virtual-game-night-trivia-charades-and-drawing-over-video-tickets-107904880402?aff=ebdssbdestsearch 

 

Saturday, August 29, 2020

From Dream to Plate Garden Series 101

MW Horticulture Landscape & Garden Depot, 16450 Old US 41, Fort Myers, FL

3:00 PM

$15

Tickets:  https://www.eventbrite.com/e/dream-to-plate-garden-series-101-tickets-116290244251?aff=ebdssbdestsearch

 

Boating Basics -- Free Seminar

Scuba Quest, 37 Del Prado Blvd. North, Cape Coral

6:00 PM - 9:00 PM

Contact Info:  239-458-1999

 

Sunday, August 30, 2020

Florida Gardening Basics, info and tips for successful Florida gardening

Thrifty Garden, 1815-2 Fowler Street, Fort Myers, FL 

11:00 AM - 12:00 PM

$5

Tickets:  https://www.eventbrite.com/e/florida-gardening-tickets-118056041799?aff=ebdssbdestsearch

 

Monday, August 31, 2020

Salsa Dance Class, Allstar Dance Studio, 4910 Tamiami Trail N., Ste. #118, Naples, FL

7:15 PM - 8:00 PM 

RSVP Free ($10 at the door)

Tickets:  https://www.eventbrite.com/e/salsa-dance-class-tickets-98067240757?aff=ebdssbdestsearch

 

Tuesday, September 1, 2020

Sunset Beach Yoga at Lowdermilk Beach by Wander Free Wellness

Lowdermilk Beach, Banyan Blvd., Naples, FL

7:00 PM

$15 Drop-In

Bring a beach towel and water for the class

https://www.eventbrite.com/e/sunset-beach-yoga-at-lowdermilk-beach-tickets-116116414321?aff=ebdssbdestsearch

 

Wednesday, September 2, 2020

Manage Your Medicare Online - Virtual Online Program

11:30 AM - 12:30 PM

Join SHINE in their virtual classroom to learn tips and tools to help you safely manage your Medicare online.

Register free at:  https://leelibrary.librarymarket.com/events/medicare-101-5

 

Thursday, September 3, 2020

The Medicine and Messages in Food -- Virtual Zoom workshops with Deb Martin, medicinal foods consultant, and Robin Joy, certified health coach and holistic chef

6:30 PM - 7:30 PM

Register:  239-277-1399  LotusBlossomClinic.com

 

 

Posted in Local Events
Aug. 21, 2020

Don't Sit on the Couch this Weekend 08-21-2020

 

 

A little something for everyone -- whether you are staying in or want to venture out.

EVENTS FOR AUGUST 21 - 27, 2020

Friday, August 21, 2020

Sunset Celebration, Times Square, 1021 Estero Blvd., Ft. Myers Beach, FL

5:00 PM - 10:00 PM

 

Saturday, August 22, 2020

Yoga on the Beach, South Beach Marco Island, 900 South Collier, Marco Island, FL

8:30 AM - 9:30 AM  

Registration not required; $10 donation suggested

 

Sunset Celebration, Times Square, 1021 Estero Blvd., Ft. Myers Beach, FL

5:00 PM - 10:00 PM

 

Sunday, August 23, 2020

Yoga on the Beach, South Beach Marco Island, 900 South Collier, Marco Island, FL

8:30 AM - 9:30 AM  

Registration not required; $10 donation suggested

 

Monday, August 24, 2020

Trivia Night on the Patio, Rusty's Raw Bar and Grill,  4631 SE 10th Place, Cape Coral, FL

6:00 PM - 8:00 PM

Test your knowledge; win free drinks and gift cards

 

Tuesday, August 25, 2020

Cooking Series: What's In Your Kitchen? Virtual Online Program

11:30 AM - 12:30 AM 

Register free at:  https://ufl.zoom.us/meeting/register/tJMldemppz0tG9NirW70sHhegWdUh0yy-G6n

 

Wednesday, August 26, 2020

Manage Your Medicare Online - Virtual Online Program

10:00 AM - 11:00 AM

Join SHINE in their virtual classroom to learn tips and tools to help you safely manage your Medicare online.

Register free at:  https://us02web.zoom.us/webinar/register/WN_rHVSH3TwSlmlN3tAb9jRIQ

 

Murder at the Library Book Club Presentation - Virtual Online Program

7:00 PM - 8:00 PM

Register now at:  https://us02web.zoom.us/webinar/register/WN_qjl91sVLT-i0Rp-fm80WFQ

 

Thursday, August 27, 2020

Thursdays on Third, Third Street Shopping District, Naples, FL

6:00 PM - 9:00 PM Enjoy live music and entertainment

Posted in Local Events
Aug. 13, 2020

Don't Sit on the Couch this Weekend 08-14-2020

Events for August 14 - 20, 2020

Friday, August 14, 2020

Kitchen Sprouting and Microgreens - learn to grown your own sprouts and greens!

6:00 PM  Thrifty Garden, 1815-2 Fowler St., Ft. Myers, FL

$5 includes take-home kit

For tickets:  https://www.eventbrite.com/e/kitchen-sprouting-microgreens-tickets-116548933999?aff=erelpanelorg

Saturday, August 15, 2020

Butterfly Gardening Basics - learn the basic requirements for establishing a butterfly habitat in your own yard!

10:00 AM  Thrifty Garden, 1815-2 Fowler St., Ft. Myers, FL

Donations accepted to help support the work of the Florida Native Butterfly Society

For tickets:  https://www.eventbrite.com/e/butterfly-gardening-basics-tickets-116550267989?aff=ebdssbcitybrowse

Just for Fun Dog Show 

9:00 AM Registration

10:00 AM  Rotary Park, 5505 Rose Garden Rd., Cape Coral, FL

For more information:  phone 239-549-4606

Sunday, August 16, 2020

Naples Virtual Game Night:  Trivia, Charades, and Drawing via Video

7:00 PM

https://www.eventbrite.com/e/naples-virtual-game-night-trivia-charades-and-drawing-via-video-tickets-107460262538?aff=ebdssbdestsearch

Monday, August 17, 2020

Mahjong Club Beginner Classes

1:00 PM to 3:00 PM  Island Plaza Shopping Center, 15675-1 McGregor Blvd., Ft Myers, FL

Tuesday, August 18, 2020

What's in Your Kitchen?  Virtual Online Program

11:30 AM to 12:30 PM  Online cooking demo will teach you how to make quick and healthy meals

Register at:  https://leelibrary.librarymarket.com/events/cooking-series-whats-your-kitchen-2

Wednesday, August 19, 2020

Stay at Home Storytime Virtual Online Program

10:00 AM  https://leelibrary.librarymarket.com/events/stay-home-storytime-9

Thursday, August 20, 2020

Mangrove Walk, Matanzas Pass Preserve, 199 Bay Road, Ft. Myers Beach, FL

9:30 AM to 11:00 AM

For more info call 239-533-7444 or visit www.leeparks.org

Posted in Local Events
Aug. 6, 2020

Don't Sit on the Couch this Weekend 08-07-2020

Events for August 7 - 14, 2020

 

Friday, August 7, 2020

Back to School Sales Tax Holiday!!

Miniature Masterpieces Trading Cards

6:00 PM Davis Art Center, 2301 First Street, Ft. Myers, FL

 

Saturday, August 8, 2020

Back to School Sales Tax Holiday!!

Plant Swap (bring a plant and take one someone else brought!)

9:00 AM - 9:00 PM Thrifty Garden, 1815 Fowler St., Ft. Myers, FL 33901

Beer Tastings Every Second Saturday

10:30 AM Alliance for the Arts GreenMarket, 10091 McGregor Blvd., Ft. Myers, FL 

 

Sunday, August 9, 2020

Back to School Sales Tax Holiday!!

Mask Exhibit

5:00 PM - 7:30 PM, Alliance for the Arts, 10091 McGregor Blvd., Ft. Myers, FL

 

Monday, August 10, 2020

Pirate Kid's Show, Virtual Online Program, birth to preschool children

9:00 AM - all day  https://leelibrary.librarymarket.com/events/pirate-kids-show

 

Tuesday, August 11, 2020

What's In Your Kitchen, 4-week virtual online program, online cooking demo teaches you how to make quick and healthy meals with things you already have   

11:30 AM - 12:30 PM  https://leelibrary.librarymarket.com/events/cooking-series-whats-your-kitchen-2

 

Wednesday, August 12, 2020

Food Truck Grab and Go, featuring Dynamite Street Eatz, Currie's Smokin Hot BBQ, and Wonderland Cookie Dough & Ice Cream

5:00 PM - 7:30 PM Alliance for the Arts, 10091 McGregor Blvd., Ft. Myers, FL

 

Thursday, August 13, 2020

Let's Make Dinner:  Using the Instant Pot and Air Fryer, virtual online program

6:00 PM - 7:00 PM  https://leelibrary.librarymarket.com/events/lets-make-dinner-using-instant-pot-and-air-fryer

Posted in Local Events
Aug. 6, 2020

SALES TAX HOLIDAY AUGUST 7 - 9, 2020

Home

Posted in Local Events
July 30, 2020

Don't Sit on the Couch this Weekend 07-31-2020

Events for July 31 - August 6, 2020

Friday, July 31

Virtual Game Night: Trivia, Charades, and Drawing over Video by Let's Roam Scavenger Hunt Adventures

7:00 PM - 10:00 PM

https://www.eventbrite.com/e/fort-myers-virtual-game-night-trivia-charades-and-drawing-over-video-tickets-107916647598

Saturday, August 1

Group Class and Latin Social with Kumodance by Rhythm in Motion

8:00 PM - 12:30 AM, Rhythm In Motion, 912 Del Prado Blvd. S., Cape Coral, FL

https://www.eventbrite.com/e/group-class-latin-dance-social-with-kumodance-tickets-115204311196?aff=ebdssbdestsearch

Sunday, August 2

Naples Beach Yoga at Seagate Beach by Wander Free Wellness

9:30 AM - 10:30 AM, North Gulfshore Beach Access, 4989-4999 Gulf Shore Blvd. N., Naples, FL

https://www.eventbrite.com/e/naples-beach-yoga-at-seagate-beach-tickets-107575240440?aff=ebdssbeac

Monday, August 3

Zumba with Jennifer -- LIVE on Zoom by Club Maple Ridge at Ave Maria

9:00 AM

https://www.eventbrite.com/e/zumba-with-jennifer-live-on-zoom-every-monday-at-9-am-tickets-100709031424?aff=ebdssbdestsearch

Salsa Dance Class by Brian Oakes

7:15 PM - 8:00 PM, Allstar Dance Studio, 4910 Tamiami Trail N., Ste. 118, Naples, FL

https://www.eventbrite.com/e/salsa-dance-class-tickets-98067240757?aff=ebdssbdestsearch

Tuesday, August 4

Tuesday Trivia Fort Myers by Spotlight Entertainment of SWFL, LLC

7:30 PM, City Tavern, 2206 Bay Street, Ft. Myers, FL

https://www.eventbrite.com/e/tuesday-trivia-fort-myers-tickets-72286213009?aff=ebdssbdestsearch

Wednesday, August 5

Virtual Game Night: Trivia, Charades, and Drawing over Video by Let's Roam Scavenger Hunt Adventures

7:00 PM - 10:00 PM

https://www.eventbrite.com/e/fort-myers-virtual-game-night-trivia-charades-and-drawing-over-video-tickets-107916647598

Thursday, August 6

Yoga Suave con Alexandra Salazar -- LIVE on Zoom en Espanol by Club Maple Ridge at Ave Maria

9:00 AM

https://www.eventbrite.com/e/yoga-suave-con-alexandra-salazar-live-on-zoom-y-facebook-tickets-103347625530?aff=ebdssbdestsearch

Zumba with Vanesa -- LIVE on Zoom by Club Maple Ridge at Ave Maria

6:00 PM

https://www.eventbrite.com/e/zumba-with-vanesa-live-on-zoom-tickets-101245287380?aff=ebdssbdestsearch

Posted in Local Events
July 24, 2020

A Real Estate Pro Is More Helpful Now than Ever

A Real Estate Pro Is More Helpful Now than Ever [INFOGRAPHIC]

A Real Estate Pro Is More Helpful Now than Ever | MyKCM

Some Highlights

  • A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis.
  • Expertise and professionalism are highly valued and can save buyers and sellers time and effort along the way.
  • If you’re thinking of buying or selling a home this year, let’s connect to be sure you have a trusted professional on your side.
Posted in Market Updates
July 23, 2020

Don't Sit on the Couch this Weekend 07-24-2020

 

Events for July 24 - July 30, 2020

 

Friday, July 24

Annual Butterfly Count at Edison and Ford Winter Estates

10:00 AM - noon

2350 McGregor Blvd., Fort Myers, FL  33

Contact: 239-334-7419

$5 entry fee

 

Saturday, July 25

Cape Coral Farmers Market

8:00 AM - 1:00 PM

Club Square, SE 47th Terr. and SE 10th Pl., South Cape Coral, FL

 

Lee County offers free pool admission and free parking July 25 and July 26 at the following locations:

Parks: Lakes Park, Manatee Park, Hickey Creek Mitigation Park, Caloosahatchee Regional Park, Six Mile Cypress Slough Preserve, Caloosahatchee Creeks Preserve

Beach sites: Bonita Beach Accesses No. 1 and No. 10, Bonita Beach Park, Bowditch Point Park and Lynn Hall Memorial Park, San Carlos Bay-Bunche Beach Preserve, Bowman’s Beach and Turner Beach (north side only of Blind Pass)

Boat ramps: Punta Rassa, Matlacha, Davis, Pine Island Commercial Marina and Imperial River

Pools: Lehigh Community Pool, North Fort Myers Community Pool, Pine Island Community Pool and San Carlos Community Pool

 

Sunday, July 26

Cape Coral Farmers Market at Cape Harbour

9:00 AM - 1:00 PM

5789 Cape Harbour Dr., Cape Coral, FL

 

Monday, July 27

Fort Myers Bicycle and Pedestrian Master Plan virtual public meeting

5:00 PM

Register for the meeting here:  https://mcmahon.zoom.us/webinar/register/WN_tWcAkxmASgK3q4UBqDJlYw

 

Tuesday, July 28

Surfside Sunshine Farmers Market

8:00 AM - 1:00 PM

Veterans Pkwy. & Surfside Blvd., Cape Coral, FL

 

Wednesday, July 29

Stay at Home Storytime for Children

10:00 AM new stories posted on Lee County Library System YouTube Channel

https://www.youtube.com/channel/UCsaYb5V_cGMkibFCJf-BAbg

 

Live Virtual Book Club Event - Julie Clark, author of the best-selling new thriller "The Last Flight"

7:00 PM

register: https://www.crowdcast.io/e/murder-at-the-library-last-flight

 

Thursday, July 30

CareerSource SWFL Virtual Career Fair

10:00 AM - 1:00 PM

Register at:  https://www.premiervirtual.com/event/register/csswfl-july30

 

Posted in Local Events
July 23, 2020

Home Sales Hit a Record-Setting Rebound

Home Sales Hit a Record-Setting Rebound

Home Sales Hit a Record-Setting Rebound | MyKCM

With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.

According to NARhome sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June: 

“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”

Home Sales Hit a Record-Setting Rebound | MyKCMThis significant rebound is a major boost for the housing market and the U.S. economy. According to Lawrence Yun, Chief Economist for NAR, the momentum has the potential to continue on, too:

“The sales recovery is strong, as buyers were eager to purchase homes and properties that they had been eyeing during the shutdown…This revitalization looks to be sustainable for many months ahead as long as mortgage rates remain low and job gains continue.”

With mortgage rates hitting an all-time low, dropping below 3% for the first time last week, potential homebuyers are poised to continue taking advantage of this historic opportunity to buy. This fierce competition among buyers is contributing to home price increases as well, as more buyers are finding themselves in bidding wars in this environment. The report also notes:

“The median existing-home price for all housing types in June was $295,300, up 3.5% from June 2019 ($285,400), as prices rose in every region. June’s national price increase marks 100 straight months of year-over-year gains.”

The graph below shows home price increases by region, powered by low interest rates, pent-up demand, and a decline in inventory on the market:Home Sales Hit a Record-Setting Rebound | MyKCMYun also indicates:

“Home prices rose during the lockdown and could rise even further due to heavy buyer competition and a significant shortage of supply.”

Bottom Line

Buyers returning to the market is a great sign for the economy, as housing is still leading the way toward a recovery. If you’re ready to buy a home this year, let’s connect to make sure you have the best possible guide with you each step of the way.

Posted in Market Updates