Featured photo: Tropical bird outside Jerry's Foods, one of Sanibel's great local groceries.
There are positive projections for Sanibel real estate and real estate across the country. Housing and economic data collected from the beginning of 2016 indicates a good start. Chief economist from realtor.com predicts strong sales for the spring. Here’s why.
Why home sales are looking good for spring
- JOBS. Job creation could be “arguably the most important factor in housing demand,” and it’s increasing. In January and February, the U.S. created 393,000 jobs, and unemployment is currently at a 10-year low. All this could translate to a 3% boost in home sales.
- HOME SALES. In 2015, existing-home sales increased 11%. The pace of sales is growing, with a boost in new-home sales as well. New-home prices are going down as more builders are offering affordable homes.
- HOME PRICE. Home prices have been increasing, mostly due to a limited number of homes for sale. Today’s housing supply is still lower than the norm, which is keeping price up as buyers feel prompted to capitalize on getting ahed of others.
- MORTGAGE RATES. Last year’s record low mortgage rates continue. The 30-year fixed mortgage rate averaged around 3.7% recently, making it more affordable for some to buy a home, and even offering consumers almost 5% more buying power than the end of 2015.
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: realtor.com | FloridaRealtors
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.