Coming to grips with todays NEW real estate market

Coming to grips with todays NEW real estate market?

2 1/2 years is a LONG time!?2 1/2 years of an unstoppable, insatiable real estate market.?It started to feel normal, but it wasn't!

Where are we in the market today??

• ?Prices?are up significantly over the last 2 1/2 years.
• Interest rates?are at historically average levels.?In 2008, our average interest rate was?6.03% according to Freddie Mac.?BUT, we were headed into a massive?housing market crash.?The Fed's response was to lower the interest rate and they?continued to hover Between 3.65% and 5%. Then.. 2020 hit.?Interest rates lowered dramatically to push the gas pedal on the economy.??Today, interest rates hovering around?7% seems massive by comparison.?What we need to realize is that the unsustainable FREE MONEY party has simply ended.?As it was always going to do.
• Sales?have slowed, but inventory is still trying to catch up to reasonable levels.?Monthly sales volume is reflecting sales numbers from 2014 / 2015... years that by all accounts are considered strong markets. Active inventory is just now hitting pre-pandemic levels. This means that buyers now have choices again!

What questions or concerns do you have about the real estate market?

Drop me a line, send me a text at (904) 534-8052, or give me a call.?I will make sure you have the information you need to make the best decisions for you and your family!

As always, the biggest compliment you can give me is to refer your friends and family!?I will take care of them as if they were my own.

For more information on the Jacksonville/ St. Augustin Real Estate Market, CLICK HERE