Here’s what the latest numbers say about our Central Florida market.

The latest numbers are in for our real estate market, so today we’ll be looking at what they mean for buyers and sellers in the Central Florida area. 

Some people are wondering whether the market will crash, but we’d need a lot more inventory for that to have a chance of happening. Things now are very different from what they were during the last market crash around 2008.

“I’m not saying that the market will definitely slow down, but trends like these show that it’s a real possibility.”

So, a good indicator of our market’s trajectory is the number of mortgage applications. Recently, applications have been trending downward, so the buyer pool will likely be smaller in the near future. Regarding inventory, we hit a low of 2,655 homes in April. This rose to 2,822 in May. Now, we’re at 3,098. This is still extremely low, however; for us to be a balanced market, we’d need around 13,000 homes available. We’re still seeing multiple offers on properties, but now there are only a few buyers in each bidding war instead of dozens. We’re also not having as many home showings.

I’m not saying that the market will definitely slow down, but trends like these show that it’s a real possibility. So, if you’re looking to capitalize on our hot market before things potentially change, feel free to reach out to me. I’d be happy to help you with any and all of your buying or selling needs. Until then, I look forward to hearing from you soon.