Last week the average 30 year fixed rate mortgage dropped to 4.04% from 4.09% just a week prior, giving incentive to prospective homebuyers.
With the economy’s steady recovery over the past 6 years in addition to lowered mortgage rates, home sales have increased. In June, individuals bought homes in the U.S. at the fastest rate in over eight years. The median home sales price increased 6.5% over the past year.[See previous article: U.S. Home Sales Reach Highest Pace in Eight Years]
It’s a great time to buy a home on Sanibel Island. To learn more about Sanibel Island real estate and search for available listings, visit our Sanibel Island Real Estate Market, and contact one of our great Sanibel realtors.
If you’d like to read more about this article and other real estate news, visit Florida Realtors.