Summer Sizzle- Real Estate Market Continues to Heat Up!

Temperatures aren’t the only thing heating up across the country this summer. Real estate markets from coast to coast are experiencing continued signs of strength. Due to low inventory in many areas, sellers are celebrating the good feeling that comes along with receiving multiple offers on their properties. (We have properties that are selling before they are even done being built!)

While foreclosures still threaten many Americans and distressed inventory is still making up a good amount of the properties available for sale, it looks as though we are headed for a housing shortage. (I get many “gasps” of shock when I share this news with audiences at investment clubs).

But let’s take the California market as an example. Based on statistics compiled by the California Association of Realtors the state’s Unsold Inventory Index for existing, single-family detached homes dropped to 3.5 months in May, down from 5.7 months in May of 2011. The index relays the number of months needed to sell the supply of homes on the market at the current sales rate. In California, the normal rate is 7 months. The summer finds California sitting at half its normal supply of homes on the market.

With interest rates somehow continuing to go even lower, buyers are actively entering the market. Multiple offers and limited inventory are resulting in increases in median homes prices.

Cities from San Diego, to the Bay Area, to Phoenix to the Florida Keys (to name just a few) are seeing very healthy increases in their median prices.

All of these factors bode well for investors. Specifically we are excited about what this means about the opportunities that are being created in the area of real estate development. With a housing shortage looming over us, bringing new inventory to the market is the key to generating some incredible profits in real estate.

Keep an eye out for us to share some exciting information about the great projects we have in development down in the Florida Keys.

While the country continues to experience hot temperatures, we’ve got some hot things going on in Florida…