Take a look at our market here in Pinellas County for the last 7 Days compared to the same period last year.
The number of single-family home sales for the week is down 60% while the number of condo sales is down 66%.
Dollar volume in single-family home sales is down 50% and dollar volume in condominiums in Pinellas County is down 59%.
Average sale prices are still up 25% for single-family homes and up 21% for condos year over year.
It’s important to note that the increase in sale price we’re seeing now occurred in the beginning of the year. The median sale price is down 3.8% since the peak in May of this year.
It’s no secret… The United States is experiencing the highest inflation rate we’ve seen in 40 years. What can Jay Powell do? (Click to watch video)
Mortgage Rates Decrease Slightly
Mortgage rates decreased slightly this week due to ongoing economic uncertainty. However, rates remain quite high compared to just one year ago, meaning housing continues to be more expensive for potential homebuyers.
