Look at median prices of single-family homes that have fallen $10,000 since October 1st. Look at Pending home sales that have fallen since October 1st. Look at inventory levels that have risen over the past 2 weeks. Sure, this market has risen like a rocket ship and now it seems everything might just slow down a bit until we know who will be living in the White House on the afternoon of January 20th.
Moving forward, besides the economy and other changes out of Washington, the Jupiter real estate market will be heavily dependent on both interest rates and inventory. No doubt the top end of the market has been driving the Jupiter real estate for years and it remains the bright star leading the way. If tax policies in Washington and bankrupt northern states change direction it could change the direction of the local market in dramatic fashion. If Trump remains in office the flow of new residents should continue and prices should continue to climb higher based on demand.
It’s hard to imagine, as we have been saying for years, that interest rates could go much higher. With a debt now of $27 trillion dollars, there is no way the government could keep solvent paying much higher interest rates. Odds are money will remain very cheap.
Inventory typically starts increasing this time of year, but over the past 30 days it has fallen 6.8%. Last year over the same span it was up 1.6%, the year before 5%. In fact as long as Paradise Sharks has kept records it has never fallen until this year. Inventory did rise slightly, by 6 units, since October 1st but again that has more to do with the upcoming election than demand.
We can hope that homeowners start licking their chops at today's prices and more inventory is headed our way. The problem for most people is where do they go. New construction prices are off the wall and rising fast with significant increases in both material and labor.
For now, pending home sales are an amazing 50.3% higher than last year, inventory is the lowest we have seen for many, many, many years. This election and the economic changes it will bring are so important to the future of Jupiter real estate. Get out and vote as the future, your future, your children's future, your grandchildren's future, America's future, is on the line.
One thing is certain about the Jupiter real estate market. It’s always changing, it's always interesting and it's always fun. Paradise Sharks has decades of fun under our belt and our local small business culture has kicked the middleman right out of the way. We don’t send franchise fees to faraway lands; we don’t have a broker taking a cut of our commissions. We pass these savings right on to our clients, our friends and our neighbors.
We sell homes fast; we sell homes for record prices and we are proud of our amazing customer service. There are few homes that Paradise Sharks cannot list for a maximum commission of 4%. Few Paradise Sharks buyers who don’t get substantial creditor at closing as our way of saying thanks. Soon, we are unveiling a new sell your home program where you can get our MLS and internet marketing at ridiculous prices if you want to sell your own home.
Think outside the box. We do and you should too. If Paradise Sharks can be of assistance in any way please feel free to contact us at email@example.com or 561.308.0175. We are super busy and still looking for the ideal business partner so if you know anyone who is spectacular and wants to make a solid six figure income assisting our friends and neighbors with crazy great real estate services, please let us know.