Local pending sales drop as inventory rises which caused the month’s supply of inventory to rise 70% in May over last year. New pending sales dropped 11% in May 2022 versus May 2021, while overall pending inventory fell 11.5% The drop in pending sales comes at the exact same time as inventory rising to 57.1% […more]
Currently we have two types of sellers in today’s real estate market. We will go in depth on both and explain how each outlook can impact both the buyers’ and sellers’ future. Fearful of Market These buyers respect the market and analyze facts. They tend to be motivated to get top dollar and do not […more]
Staggering inflation rocks financial markets this past week essentially forcing the Fed’s hand going forward. This caused interest rates to skyrocket to over 6.625% for well qualified buyers, up from about 5.375% the week prior. We are writing this article before the Fed makes its decision on rates. Some believe the Fed will raise rates […more]
Lee County housing inventory trend line is on the rise. Local inventory has grown above the trend line for 6 straight weeks. Housing inventory has risen for 17 straight weeks. Housing inventory trend line headed upward This tells us the top of the frenzy probably occurred back in February. Agents across the county are noticing […more]
Could future oil prices and housing market direction be tied together? We are beginning to think future oil prices may dictate a lot of things, including the direction of the housing market. Up until now, the stock market and housing market has been influenced by the market’s perception around the Fed and 10-year interest rates. […more]
One of my finance professors in college named housing best hedge against inflation and I never forgot that. He said tangible assets like real estate, gold, silver, etc. retain their value as the dollar is devalued due to inflation. Construction Costs Going Up In fact, as inflation heats up, the cost to build new construction […more]
We just pulled new numbers from MLS and found that housing inventory grows most in the higher price ranges since March. Overall single-family home market inventory in Lee County grew to a 1.18 month’s supply, up from .82 month’s in March. Where we see the most differential between the two graphs is in the $300k […more]
Finally, we have some good news for home buyers in 2022. This article will spell out some facts that are benefitting home buyers right now and a scenario that may help in 2022. For the past several years home buyers have been competing with other home buyers in addition to personal investors and investment companies […more]
Southwest Florida listing inventory rose 40% since mid-February as interest rates have also been rising. Are the two numbers correlated? We’re not sure, but they could play a factor. SW Florida listing inventory rose 40% since February 15th We do know that many builder homes that have been under contract for a while are coming […more]
Lately it seems everybody wants to know how long this market will last. Thankfully, we developed an indicator for that years ago that predicted the changing market. It is called the Ellis Team Current Market Index Indicator or Market Direction. We analyze a series of numbers and from that it spits out a number. The […more]