What can Southwest Florida homeowners expect as a result of nationwide economic changes? As brokers in an unprecedented market, we are hyper-aware of market trends and shifts. While we anxiously await the daily “trade” emails, articles and blogs written by local, state and national economists, we often feel a shift before it is acknowledged in the press. YES, we are sensing a bit of a change; nevertheless, we believe the slight difference in the local market may be related to the seasonal shift of years gone by.

Gut feeling, you ask? Read on!

First of all, there has been a bit of a slowdown, meaning we have not written as many contracts as we did in May of 2020 and May of 2021. Again, this is TYPICAL of a PRE- COVID market, where homeowners descend upon the area beginning in November and head back north in late April to enjoy weddings, graduations, family visits, cooler weather, etc.

We believe interest rates could impact our market but not as they have impacted markets nationwide. People have EQUITY in their homes. Ninety to ninety five percent of the offers we presented last year were cash offers. Sellers in this market will not accept offers with financing contingencies. And if they do, they always, ALWAYS remove the appraisal contingency. This means buyers have instant equity — a very important factor in the current market and the exact opposite of the last real estate bubble.

We continue to experience very low inventory, especially when it comes to single family living. The influx of new residents to the state of Florida is nothing short of a mass exodus; baby boomers continue to flock to Florida and will continue to arrive for another NINE to ELEVEN years. Baby boomers will surely be followed by Gen Xers! And what about Millennials? Millennials will have more and more opportunities to work from their computers. Millennials (as do many people) LOVE THE springlike temps in SWFL from October through May. Characteristically, Millennials are family oriented thus the likely spot for this generation to settle? Close to parents and grandparents!

What does all of this mean? Waiting for inventory to increase, waiting for just the right time, waiting for the market to crash, waiting just to wait — we don’t feel a huge shift will occur IN THIS MARKET (not accounting for an unforeseen national/international issue). May and June 2022 — could be your best chance to purchase a home. If the annual trend continues, buyers will return in July/August and they won’t stop until next spring.

If you are considering the idea of selling your home, there is no time like late June as we believe home shoppers will return with a vengeance beginning in July! New or beautifully updated single family homes are rare in this market, particularly in golf communities. Updated, reasonably priced homes/condos are still selling quickly. If you are considering the idea of a sale, call Scott and Angela for your free and confidential market analysis. We are here AND excited to assist with ALL of your real estate needs! 239-675-9464