Aug 30th - Be Alert! Hackers Are Stealing Millions From Buyers By Using These Real Estate Scams

Tight Inventory Continues To Dog Housing Market

Steve starts his Real Estat Roundup segment by asking Terry how long a typical For Sale house stays on the market before it gets a confirmed buyer.  Terry says the national average was 27 days for the month of May 2017, well below the 100+ days it took when the 2007 recession hit.  She says Florida’s residential real estate market is a little sluggish, with homes on the market for 45 to 60 days because they are priced a little higher than the rest of the country and, therefore, take a little longer to sell.

The bottom-line is that the inventory of homes for sale continues to remain low, so homes are snapped up fairly quickly after they list, with buyers also eager to lock in low mortgage interest rates.  She also holds baby-boomers responsible for the tight inventory because they are less willing to sell, are content with the homes they live in and, if they sell, typically downgrade to smaller homes where they compete with first-time home buyers.