Greater Seminole County Real Estate Report 7-8-20: Despite the unknown uncertainties of COVID-19, there are plenty of positive signs for Florida’s real estate market. Now is the time to buy or sell!
Is Good News on the Horizon for Florida Real Estate?
Nobody knows for sure what the future holds with respect to COVID-19 and it seems that things are changing on an almost daily basis. Despite these unknowns, there seem to be positive signs for Florida’s real estate market. What are these signs and what do they mean?
Home Prices on the Rise Show Positive Signs
Despite a lower number of sales, the price of homes being sold has increased. Buyers are willing to pay reasonable prices for well-maintained homes in good condition. These are positive signs for both sellers and buyers. This means that it is a seller’s market. Those who are looking to put their home on the market should strike while the iron is hot.
Unemployment is on the Decline
During the peak of the pandemic, unemployment was at an all-time high. According to Florida Realtors, 33 million filed for unemployment early in the crisis. That number dropped to 26 million in early May. With employment on the rebound, more people are once again finding financial stability. This means that they are now focusing on endeavors that had to be put on hold due to the pandemic, including buying and selling homes.
Renewed Faith in the Economy
As many people are watching businesses reopen and jobs come back, there is a renewed faith in the economy. People are more willing to make large investments than they were a few months ago.
Where Do We Go from Here?
Only time will tell where we go from here, but the positive signs instill a sense of hope. Best case scenario, we continue to see a trend of businesses reopening, individuals finding jobs, and the economy strengthening as a whole.
If you have any questions regarding home buying and selling, please feel free to reach out to me and my team. We are happy to provide you with the information you need to make informed decisions that are best for you and your family. This is Gitta, with Gitta Sells. You can reach by email at gittasells@gitta.com or 407-330-2181. Until next week, stay safe!
