During the holidays, people are so busy with planning family gatherings and prepping for the holidays that real estate purchases seem to fall on the back burner. According to Forbes Business, the biggest big-ticket items purchased during this time are homes!
Forbes states, “About a million consumers will purchase a home from November to January this year”. Did you know that according to the Case -Shiller Price Index, typical homes rise around 3% to 5% per year? They are predicting this year; the gain will be a little bit stronger closer to 6%. A shortage of inventory is partially to blame. Thusly, indicating a seller’s market. Nevertheless, hold on one minute…
Homebuyers must keep in mind that great deals can be had during this time. The Case-Shiller Index uses an algorithm that looks at a real estate property and assesses the change in value from the first purchase to the second purchase. The algorithm is then applied “over all properties to reveal a price index over time.” There are fluctuations in data, which are not influenced by the time of year.
Essentially, the bottom line is if you find the home of your dreams, buy it now! If you are looking to modify real estate properties, now is the time. Interest rates are still favorable.
To get an accurate understanding of the real estate market in South Florida, perhaps Jupiter and the surrounding areas, please contact the real estate specialists at Waterfront Properties and Club Communities at INFO@wfpcc.com .