Home Sales InfographicThe housing market has started off much stronger in Florida this year than it did last year. Lower mortgage interest rates have been a driving factor in that change. The average 30-year rate in 2019 according to Freddie Mac was 3.94% while today that rate is closer to 3.5%.

The Census Bureau also just reported the highest homeownership rate since 2014 for people under 35. This is evidence that owning their own home is becoming more important to Millennials as they reach the age where marriage and children may become part of their lives.

According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR), buyer demand across the country is strong. That's not the case, however, with seller demand, which remains weak throughout most of the nation. Here's a breakdown by state:Buyer Traffic Index

Demand for housing is high, but supply is extremely low. NAR also just reported that the actual number of homes currently for sale stands at 1.42 million, which is one of the lowest totals in almost three decades. Additionally, the ration of homes for sale to the number purchased currently stands at 3.1 months of inventory. In a normal market, that number would be nearly double that at 6 months of inventory.

What does this mean for buyers and sellers?

Buyers need to remain patient in the search process. At the same time, buyers must be ready to act immediately once they find the right home.

Sellers may not want to wait until spring to put their houses on the market. With demand so high and supply so low, now is the perfect time to sell your house for the greatest dollar value and the least hassle.

Bottom Line

The real estate market is entering the year like a lion. There's no indication it will lose that roar, assuming inventory continues to come to market.

Discover your home value using my home valuation tool, or reach out to me directly at (954)336-DAWN(3296) to find out how I can help you sell your home quickly while saving you money.