Recent headlines have pointed to declining home inventories starting to approach normal levels. The Punta Gorda real estate market has remained especially strong in the under $200k segment in some area’s for well over a year, tipping inventory levels into a range, that sales out strip new listings. Normally this would signal a change in prices to the upside. The lingering affects of the housing bubble, keep market forecasters off balance, sometimes sending mixed signals as to where we’re heading.
Short term it’s fair to say we’re still in a buyer’s market, with just a little less inventory then we’ve become accustom to. Barring a significant downward turn in the economy, coupled with the Gulf Oil spill coming to an end with no ill effects in our area and record low interest rates, things should continue to improve. So the question is, when this will translate into rising home prices. For now most agree prices have bottomed and are in a stabilizing range.
The level of future foreclosures remains a wild card and could impact the market’s ability to support rising prices. Additionally, no one knows for certain the number of home owners who’ve held back on listing their homes, waiting for an indication of an improving market. These unknown’s tend to support a continuation of a buyer’s market for Punta Gorda real estate.
One of the other underlining factors supporting the Punta Gorda housing market remains future retirees. Punta Gorda and Port Charlotte have long been favorite locations for retirement, known for its nearly perfect weather for golf, boating, fishing and outdoor activities. Future retirees with retirement horizons of 5 years or less, view investing in real estate far more comforting than the prospects of the stock market. This has fueled a high level of all cash purchases in all segments of the house market. The underlying current points to this trend to continue, with many believing this will only expand.
So is this the end of great deals and the return to rising home prices? In truth no one knows for sure, but this remains a great time to buy a home or condo in the Punta Gorda area. To learn more about our local real estate market visit www.paradiseinpuntagorda.com or email
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or call 941-661-9773 and talk with Ken Poirier about finding your piece of paradise.
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