Be updated on the summer housing market and what to expect this elections

As we continue to enjoy the summer months, let’s take a quick look at how the real estate market is doing. We’ve seen inventory rise and sales decline for the fifth consecutive month as we enter June. This indicates a soft start to the summer market, and we are starting to notice some downward pressure on pricing. While some homes are still receiving multiple offers and are selling quickly, it’s crucial to price properties accurately.

In this market, sellers find themselves in a position where they need to give up concessions on price or negotiate terms similar to what builders are offering, such as rate buy-downs and reductions.

“While some homes are still receiving multiple offers and are selling quickly, it’s crucial to price properties accurately.”

Looking ahead, it’s worth noting that we have the presidential elections coming up in November. Historically, elections haven't been particularly favorable for the housing market. It will mainly depend on what the Fed decides to do with interest rates. If rates stay the same and inventory keeps rising while sales decline, we can expect further downward pressure on prices.

I’d love to connect with you if you’re interested in an update on your property’s valuation or want to discuss what’s happening in your area. Feel free to reach out to me at (407) 499-8993. I look forward to keeping you informed about our real estate market.