Thursday, April 11, 2013

Northeast Florida Report

Jacksonville, FL – Buyers Don’t Want to Miss the Boat on Prices and Rates Source: Credit Suisse; Census Bureau (4,582 single-family permits in 2012, 23rd largest market in the country) Comments from Real Estate Agents: • “Low mortgage rates and inventory as well as the perception that prices are increasing. Multiple offers on most properties.” • “It is insanely busy, multiple offers galore, feels like a feeding frenzy. Buyers want to buy.” • “Feeling that prices are on the rise.” • “Appraisals seem to be more in line with the market.” • “Pent-up demand.” Our Take: • Our buyer traffic index slipped to 67 in March from 69 in February, but remained at levels above agents’ expectations (any reading above 50). Agents continue to note better demand as buyers don’t want to miss the boat on low prices and rates. • Home prices continued to increase (the seventh consecutive month), as our home price index increased to 92 in from 88. • Our home listings index came in at 83, and our time to sell index came in at 92, both far above neutral levels and positive for pricing in the coming months.. John Holbrook - Realtor Amelia Island, Fernandina Beach & Yulee, Florida Cell: 904-415-0171 Email: Web:

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