More and more Americans believe real estate is a sound investment, and real estate demand has continued to increase over the past couple of years in spite of the record low housing supply.
According to realtor.com, the number of home buyers visiting their site in August “was up 16% over last August,” and “yet the number of homes for sale was down 8%.”
Recently, there’s been a “sizable shift toward first-time buyers” entering the market, but it’s not as easy as it looks. The market conditions have presented one particularly tricky obstacle for many home buyer hopefuls: the price tag. High demand and low supply have driven the sales prices up, and as a result, the first round of buyers have been those with considerably more purchasing power.
Despite the possible financial barriers, the number of first-time home buyers is indeed increasing. A year ago, 35% of buyers identified as first-time buyers. Now it’s 51%. While it’s unclear how this will all settle out, it’s an interesting market trend to follow.
If you’re interested in Sanibel real estate, whether you’re buying, selling, or just looking, contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. We’re also more than happy to help you find the Sanibel realtor that’s the right fit for you.
Source: "First-Time Home Buyers Come Out in Force–but Face New Challenges" -realtor.com
This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.