The ever-widening gap between U.S. median house prices and median income is a pressing issue that affects millions of Americans. Over the past few decades, we've witnessed a significant divergence: while house prices have soared, wages have stagnated, adjusting for inflation. This disparity has made homeownership an increasingly elusive dream for many, particularly for first-time buyers and middle-class...
I have an amazing new listing in my neighborhood, 1768 Creekwater! Unleash your living potential in Waters Edge! This well-maintained home boasts flexibility at every turn, starting with a spacious air-conditioned 3rd car garage offering endless possibilities (workshop, gym, extra storage?). Step inside to a split-bedroom layout featuring a formal living & dining room, plus an open kitchen that flows...
We're back with our Ormond Beach Housing Update. My biggest takeaway is the amount of new listings coming to market. The highest percent increase in Volusia County. It hasn't been affecting it's sales price as that's been increasing. Ormond Beach Housing Update December 2023 January 2023 January 2024 Percentage Difference Number of...
We're back with our Daytona Beach Housing Update. My biggest takeaway is the decrease in sales price. I believe this was just an outlier month as December was stronger than January. I'll be monitoring this to see what happens! Daytona Beach Housing Update December 2023 January 2023 January 2024 Percentage Difference Number of Listings 922 602 929 54%...
We're back with our Port Orange Housing Update. My biggest takeaway is the decrease in sales price. I believe this was just an outlier month as December was stronger than January. I'll be monitoring this to see if they're decreasing or increasing. Port Orange Housing Update December 2023 January 2023 January 2024 Percentage Difference Number of Listings 254 192 262 36% Increase New...
We're back with our New Smyrna Beach Housing Update. My biggest takeaways are the number of active listings. 111% increase from this time last year is a huge increase. Why for the increase? Well by looking at the data, sellers who are putting their house on the market are asking way too much. Sellers are asking for 31% more than the average sales price. New Smyrna Beach Housing...
For many Americans, the dream of homeownership took a backseat in 2023. Existing home sales in the US hit a staggering 18.7% decline compared to 2022, marking the lowest annual sales volume since 1995. This dramatic shift wasn't due to a lack of desire, but rather a perfect storm of factors that put the brakes on the housing market. Rising Interest Rates: The culprit many point to is the surge in mortgage...
The headlines might have you believe the sky's falling on the real estate market, but hold on – a closer look reveals promising reasons for optimism with real estate in 2024. While there may be some shifts and adjustments, savvy investors and homeowners can navigate the year with confidence, fueled by these five trends: 1. Mortgage Rate Stabilization: After a rollercoaster ride in 2023, mortgage rates...
The December 2023 consumer price index (CPI) report. Consumer price index was higher-than-expected inflation rate and the Fed’s response. The CPI rose 0.3% in December and 3.4% year-over-year. This was higher than the estimated 0.2% and 3.2%. Excluding food and energy, the core CPI also rose 0.3% for the month and 3.9% from a year ago. Shelter costs were the main driver of the increase. The Fed is...
Time for the 2023 New Smyrna Beach Housing Update. What are your thoughts? New Smyrna Beach Housing Update 2022 2023 Percentage Difference New Listings81996618% IncreaseSold Properties6255945% DecreaseList Price$639,000$639,0000%Sales Price$578,000$520,00010% DecreaseDays on Market819113% IncreaseDaytona Beach Housing Market UpdateOrmond Beach Housing Market UpdatePort Orange...