Jacksonville, FL – Traffic Continues Slow but Steady
Improvement, Urgency Returns to the Market
(3,245 single-family permits in 2011, 27th largest market in the country)
Traffic shows incremental progress. Buyer traffic improved further in March, as our traffic index increased to 55 from 50 in February, in-line with a neutral reading of 50 (readings of 50 point to traffic in-line with agents’ expectations). Agents in March noted that buyers had a better sentiment toward the economy and felt more secure about their jobs, leading to them be more aggressive in the search in March. Affordability remained a key driving force behind better traffic, with several agents noting that attractive pricing continued to draw buyers into the market. One agent mentioned, “Buyers are coming in and are especially motivated by low prices.” Another agent noted, “We are getting multiple offers on many well priced properties. Low rates have definitely helped, but we think the key difference is that buyers are more confident.” However, some agents highlighted that buyers remain frustrated with short sale process, opting instead for the easier to handle rental market.
John Holbrook - Realtor Amelia Island