After a year of rising interest rates, low inventory and affordability issues, experts predict the housing market outlook may be improving.
“Inventory levels have increased slightly, its highest level in over a year. So, is it a good time to sell? Or might it be a better time to buy? Florida’s housing market in April saw more for-sale inventory and higher median sales prices compared to a year ago, and sales continue to trend closely with the pre-pandemic market. Central Florida remains one of the top 10 housing markets in 2024, and we’re hopeful that mortgage rates will ease a bit more this year, but remain in the low-mid 7% range,” stated Joe Bornstein, Rock Springs Realty Broker/Owner.
“Gone are the days of the abundant 3% mortgage, but at least buyers have gotten some relief from recent highs. Freddie Mac’s latest data notes that the 30-year mortgage rate is 7.17% – down from 7.70% in late October 2023. This could be a good sign for the easing of mortgage interest rates, which truly is the lifeblood of the industry. Additionally, with listing inventories moving up, and prices stable, many buyers are predicted to get off the side-lines and pursue their home search in preparation for the summer selling season,” stated Bornstein.
If you’re looking to sell or buy anywhere in the Central Florida area, you need the knowledge and experience of the seasoned team at Rock Springs Realty to guide you through all the complexities of the real estate market. You need a team you can trust who will always look out for your best interest.
And, if you’re considering purchasing a new construction home, be sure to have an experienced Realtor® on your team. “When you walk into a builder’s model home and are greeted by the salesperson, it’s important to remember they work “FOR” the Builder and have the Builder’s best interest in mind, NOT YOURS! That salesperson is not going to fight to get you the lowest price possible, best terms, incentives, and discounts available. The salesperson working for the Builder makes an extra commission if you don’t utilize a Realtor®. The odds are truly stacked against you in this situation”, stated Bornstein.
The team at Rock Springs Realty will take the time to walk you through each step of the process, explain the contract and disclosures, and give you a full understanding of the closing process. They are skilled negotiators who can get you the best deal possible.
Rock Springs Realty is a full-service real estate brokerage offering residential, investment, and commercial services in the Central Florida market since 2008.
They make it easier for you to find your new home or sell your current one. Voted one of the top real estate offices in Apopka for nine years in a row simply validates why they’re the professionals you can count on for making your dreams a reality.
Rock Springs Realty provides the highest level of service and commitment to their customers. They deliver exceptional results for property owners, investors, and residents alike, and have emerged as a clear market leader for the greater Apopka area. They operate with a rigorous commitment to staying in front of rapidly changing market conditions. Their broad range of expertise earns superior results across market cycles and asset classes.
Joe Bornstein and his team foster a culture of efficiency, open communication, and a complete dedication to their clients’ needs. The experienced team of professionals at Rock Springs Realty include Realtors Dawna Hosier, Kelli Crosby, Joanne Montchal, Kyle More and Christine Nejame-Evans. The combined experience of this team represents decades of successful accomplishment of their clients’ real estate transactions.
Always delivering results, you can visit them at www.RockSpringsRealty.com or call toll free (877) 333-2811 to find out how they can assist you with your specific real estate needs in this rapidly changing market. “It’s all about results”, stated Bornstein.
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