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The Upward Trend Continues

Posted by on in Flagler County Real Estate
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A lot of the United States is holding its breath hoping that the recovery of the economy will continue. Since housing is an important vital indicator, a lot of eyes are turned towards the housing market. This focus on housing is not just because home prices help drive key economic indicators but also that home sales help drive many sectors of the economy in general. Construction, lending, home services like pest control, and all of the industries related to home improvement depend on a healthy housing market. Homeowners do not spend money on their homes if the values are declining.

So, for those who have eagerly awaited news of how the real estate market is doing, the news is wonderful. September was the 20th consecutive month for year-over-year increases in both sales volume and prices! The median price of $185,000 was 12.2% above the price in September 2012. According to the RE/MAX Housing Report, inventory continues to decline at a slower rate. Is that good? Yes, that indicates the market is coming closer to the 6-month supply that indicates a balanced market.

housingMany other indicators suggest that the recovery is moving along well. In a recessionary economy, the population pulls back from luxury purchases and makes do with just necessities. The National Marine Manufacturers Association reports that boat sales are up 10% over last year. Just like with real estate, that means the myriad industries based on boating will also do well. Marinas, repair and service companies, upgrade parts, and storage facilities will all be more successful, will add jobs, will be stronger.

In our own market area of Flagler County, we are seeing similar increases to the national trends. Home sales are up over last year, home prices are increasing at a reasonable rate, home service industries are bouncing back. We think it's a wonderful sign! How do you feel about the way things are going? Are you as optimistic as we are?!
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Tagged in: home sales real estate