Overflowing Inventory...What does that mean for our Market?

Analysts are seeing a shrinking of inventory all over the United States. That being said....who's picking these homes up? There are investors and homeowners stepping in. The market is coming down to a more even spot. When you begin looking at levels of pricing(removing the 2004-early 2006 range) we find that the majority of markets are back on the normal 7-10% appreciation. Mortgage Rates are staying level and continuing to drop a little bit more. More information on rates and what you can afford can be found at www.InvestSmarter.com. Even CNN Money discussed this in the article below. Very good insight. The Destin Florida Real Estate market is following a very similar trend. These trends are also within another blog on this site showing the stabilization of the market. Destin Florida is still on of the hottest spots to invest in or retire in. The wonderful beaches make this place stand out and the prices are still very low when you compare Destin Florida Real Estate to other Florida Real Estate markets.

From CNN: The supple inventory of homes available for sale in major metropolitan areas rose in April, according to figures compiled by ZipRealty Inc. But analysts believe the supply of houses may plateau.The inventory was up about 6 percent from April 2007 in the 18 metro areas for which Zip, a California-based real-estate brokerage, has comparable year-earlier data.Compared with March of this year, inventories expanded 3.5 percent in the 29 markets the company tracks. However, the number of homes on the market normally increases during this month-to-month timeframe.Michael Larson, a real estate analyst with Weiss Research, says, “Inventories in some cities may be topping out” because there are fewer new homes being built and builders and banks have been very aggressive in selling off foreclosures and previously built homes.

Source: The Wall Street Journal, James R. Hagerty, and CNNMoney.com, Les Christie (05/08/2008)

For more information on the Destin Florida Real Estate market or what's available for sale in Destin Florida, Niceville Florida, Crestview Florida or Fort Walton Beach Florida please visit the following:

www.RandBCoastalRealEstate.com
www.Destin-Florida-MLS.com
www.Destin-Florida-Condominiums.info

Have a great day!