At the end of February 2015 all numbers appear to favor single family home sellers with increasing sales prices, decreasing inventory, more cash sales and fewer new listings.
Since September 2014 the year-over-year inventory of single family homes has decreased steadily with current inventory levels at the lowest level since May 2014 (except for a one month jump in October).
The majority of single family home sales in February 2015 were standard sales (76+%). Foreclosures made up about 20% of sales while short sales continued to decrease to only about 4% of closed sales.
If you are considering buying a single family home in Brevard County, Florida this may be your best time. Look at the signs...
- Prices are rising,
- Inventory levels are low, and
- Interest rates are still very attractive (around the 3.8% range for 30 year loans).
The above data provided by the Florida Realtors®