Why The Florida Housing Market Wont Slow Down This Winter

Dated: December 13 2021

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Why the Florida Housing Market Won't Slow Down This Winter

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From the opportunity to take advantage of today’s low mortgage rates to the rapidly growing cost of renting a home, Americans have more motivation than ever to buy a home in Florida and around the rest of the country right now. According to the experts, home buyers are making moves to buy a home right now, creating an unseasonably strong housing market in the Tampa Bay Area and Florida as a whole for this time of year. Tampa Bay was recently ranked as the #1 area for the fastest growing home rental rates...combine that with competitive mortgage rates, historically low unemployment, and the option for many out-of-state professionals to work remotely, and you have the perfect storm to create an unwavering demand for housing. 

As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have to say about the continued momentum in the current housing market, and what it means as we head into the early part of 2022:

Lawrence Yun, Chief Economist, National Association of Realtors (NAR)

“This solid buying is a testament to demand still being relatively high, as it is occurring during a time when inventory is still markedly low. The notable gain in October assures that total existing-home sales in 2021 will exceed 6 million, which will shape up to be the best performance in 15 years.” 

Odeta Kushi, Deputy Chief Economist, First American

“So far in November, purchase applications point to another strong month in sales. Still low rates and demographic demand support this strength, even as affordability and inventory headwinds remain.”

The M Report

“The demand for housing in the United States has reached a fever pitch, a trend that opposes the norm of this time of the year when the market cools as the winter months set in.”

Mark Fleming, Chief Economist, First American

Strong demographic demand will continue to act as the wind in the housing market’s sails.”

What does this mean for the winter housing market?

Home buyers are actively in the market, and they’re competing for homes to purchase in the Tampa Bay area of Florida more than ever before. With the momentum coming out of this fall, all signs point to the winter housing market picking up steam, making it much busier than in a more typical year. And as we’ve seen in so many ways, 2020 and 2021 were anything but typical in real estate. It looks like 2022 may be joining that list before we know it. In Pinellas County for example, the Median Single-Family Home price has jumped to $399k as of last week. This is a major price record for Pinellas County. Low housing inventory and high demand for housing, land, and close proximity to the beaches don't seem to be anything that's changing any time soon.

Bottom Line

If you think the housing market will slow down this winter, think again. Whether you’re thinking of buying a home, selling your house, or both – let’s connect to determine if this winter is your best time to make a move too. Call or text us at (727) 400-3315 any time so we can review your real estate needs and goals. 

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Other Articles You May Enjoy:

The Top 10 Cities Where Home Prices Have Grown the Most in Pinellas County

How Staging Your Home Can Help You Sell it For More Money

5 Tips for Making an Offer on Your Next Home

Instant Home Value Estimate

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Gabriele Spinuso

Gabe has been a resident of Seminole and the surrounding Gulf Beaches his entire life. His vast market knowledge of many of the trendiest Downtown and Beach subdivisions in Pinellas County is simply u....

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