According to CoreLogic’s latest Home Equity Report, the average homeowner in the state of Florida saw a $10,000 increase in the value of their home since the 3rd quarter of 2017. Those are substantial gains, but they lag the national average, which is just over $12,000. Further, homeowners are seeing smaller increases than in recent years, signaling a slowing down in the rampant seller’s market we’ve seen. According to CoreLogic,
“On average, homeowners saw their equity increase again this quarter, but not nearly as much as in previous quarters,”
says Frank Nothaft, CoreLogic’s chief economist. “The lower year-over-year gain reflects the slowing in appreciation.”
What Does a Slowing Seller’s Market Signal?
What this all means — if you are thinking about selling, now is the time to do it! Your equity position is likely very good, and there are lots of buyers in the market for a home. For buyers, it means there will be more negotiable pricing available for homes and it’s a good time to buy as well when the market is balancing itself. Here in Southwest Florida, we are seeing a lot of activity right now! Both buyers and sellers are active in the market, which is great news for our local economy. Lots of people we’re meeting are from northern climates looking for a warmer place to winter or move to permanently. So, yes, it’s still a seller’s market, but there are bargains to be had for buyers as well.
What Action Should You Take in the Current Market?
Call me at 239-675-3039 if you’d like to discuss selling or buying! I’m just a quick phone call away
and can get you all the information you need to decide if the time is right to make a
Further, our agency is licensed to handle buying and selling of mobile homes as well, including those on leased land. So, if
you are considering buying a winter place for your family — give us a call!