๐Ÿก Yes, Florida Homeowners Are Listing Homes for Sale ๐Ÿก Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ Southwest Florida ๐ŸŒด

Dated: July 16 2021

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Florida Realtor Magazine 2021 07 16 - Yes Florida Homeowners are listing homes for sale again after the China COVID-19 coronavirus plandemic Hoey Team 239RealEstateDeals.Com LLC

ORLANDO, Fla – When it comes to housing, there’s no denying that the U.S. is currently experiencing a seller’s market for the ages – but there’s some confusion about the underlying reason.

We’ve all heard the stories. Tearful would-be homebuyers being outbid at every turn. Their frustrated and exhausted agents turning the town upside-down, trying to find the next listing before it’s gone.

The struggle is real, and the data backs it up.

Here in Florida, there were only about 60,000 active listings of homes for resale as of the end of May. That’s a roughly 56% decline from the more than 135,000 homes on the market just one year ago, at the end of May 2020.

It also happens to be the lowest level of inventory ever reported by Florida Realtors Research Department, whose statistical records extend back to January 2008. The department calculates monthly resale market statistics from data provided by Florida’s numerous multiple listing services.

This decline in resale inventory is not unique to Florida, either. Recent housing market commentary from nationally prominent real estate analysts and economists has zeroed in on the low inventory counts being reported all around the country – and rightly so.

Florida Realtor Magazine 2021 07 16 - Yes Florida Homeowners are listing homes for sale 1 End of month inventory after the China COVID-19 coronavirus plandemic Hoey Team 239RealEstateDeals.Com LLC

Unfortunately, though, this laser-like focus on inventory levels – along with all those vivid stories of buyer hardship – has given rise to a broadly held belief that significantly fewer homes are being listed today than before the pandemic.

As it turns out, that’s not really true.

Inventory is simply not a good measure of how many homes are being listed for sale. When it falls from one month to the next, it only means that fewer listings became active compared to the number that became inactive. A home going under contract affects inventory just as much as a home being listed for sale.

Most housing market commentators have been so busy telling you about our shockingly low inventory that they’ve forgotten to mention (or haven’t noticed) what’s going on with another key statistic: new listings of properties for sale.

Well, here’s what’s been happening with new listings. From January through May of this year, more than 246,000 existing homes were listed for resale in Florida.

That figure should raise some eyebrows. It is quite close to the roughly 250,000 and 248,000 properties that were listed during the same period in 2018 and 2019, respectively. And with the exception of those two years, it’s the largest total recorded for the first five months of any year dating back to at least 2008.

In truth, apart from a bad April last year (30% fewer new listings than in April 2019), the number of properties coming onto the market each month wasn’t substantially different during the pandemic than what it was pre-pandemic.

The count for July through December last year – over 263,000 – actually set a record for the second half of any year, coming in about 10,000 listings above 2018’s tally.

Florida Realtor Magazine 2021 07 16 - Yes Florida Homeowners are listing homes for sale 2 Monthly New Listings after the China COVID-19 coronavirus plandemic Hoey Team 239RealEstateDeals.Com LLC

This trend has been visible for months now, not only in the statewide data, but also across local markets and different property types. And local data from markets elsewhere in the U.S. also reflect this trend, indicating it is happening nationally, not just here in Florida.

So why, then, is our inventory so low? Because all these homes being listed are selling – and selling fast. We’ve obviously had more closings so far this year than in the early months of last year due to the onset of the pandemic. But we’ve also had 28% more closings than during the equivalent period in 2019. Half of the sales that closed this May were only on the market for, at most, 12 days before going under contract. In May of 2020, that figure was 34 days. In May 2019, it was 44 days.

Florida Realtor Magazine 2021 07 16 - Yes Florida Homeowners are listing homes for sale 3 Monthly Closed sales after the China COVID-19 coronavirus plandemic Hoey Team 239RealEstateDeals.Com LLC

At this current rate, a lot of homes being listed aren’t even showing up in the end-of-month inventory figures. They’re going under contract before they can be counted.

The bottom line: Our inventory has been eaten away by a huge influx of buyers motivated by record-low interest rates and a pandemic-driven desire for a change of residence – not a decline in new listings.

A useful analogy is to think about an empty shelf at the grocery store. That shelf might be empty because the store stopped getting shipments of the product that goes on the shelf. On the other hand, it could be empty because demand has dramatically increased for that product and the shelf is being picked clean as soon as it gets stocked.

The latter scenario is a better description of our housing market right now – and that’s the better scenario. If inventory were instead falling due to a lack of new listings, there would be nothing to sell. Sales over the past year would have been down in a very big way, not marching at the record pace they have been.

Now, are there constraints that are keeping the number of new listings from rising to meet this elevated level of demand? Absolutely. We want to have a lot more new listings than normal right now, and we’re not getting them. That’s why it’s still accurate to call this a housing shortage.

At least, though, we’ve been getting enough listings to accommodate a huge expansion in the number of sales. This expansion has put the housing market at the forefront of our economic recovery.

That’s something we can all take solace in, even if it is cold comfort for all of those prospective buyers waiting to pounce on the next listing that pops up.

Brad O’Connor, Ph.D. is the Chief Economist for Florida Realtors

๐Ÿ€ The Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜ serves all of Southwest Florida ๐ŸŒด Helping Sellers & Helping Buyers โ˜˜ 

Recently Barry & Kim with the Hoey Team โ˜˜ helped a number of sellers who had been in Foreberance and we were able to get them to a "good place"; worry free; with excellent end results.  We help people in many different situations; everybody's situation is different; if you know someone needing help; have them reach out to us in confidence: 239-360-5527 โ˜˜

As people continue to move and relocate to the general areas of Lee & Collier Counties from other parts of the United States, it is important that we are able to serve all of the area; which we do efficently, with the ability offer many different Choices and Lifestyles all of which are in abundance here in SW FLA ๐ŸŒด

Inventory remains low overall, but we do continue to list and market new properties to the marketplace and we sell many different type homes; Resale & New Construction; Multigenerational Family Compounds, Regular Single Family Homes, Villas, Townhomes and all Condo types, from low rise, to waterfront high rise right on the beach. 

We have also seen an uptake in people planning ahead, and buying that second home now, rather than waitiang as they were planning to do; especially with Snowmads and Zoombirds.  Previously we had Snowbirds; interesting how terminology keeps changing. 

Lower interest rates are probably helping with the increased sales; oftentimes over asking price.  Low inventory is the greatest chalenge for buyers; but if prepared you are ahead of the game; ask how we can help.  We recently got an amazing deal for a buyer on a Waterfront Condo with Boat Dock; and we are working on others; so there are deals out there; if you work with us, we will find them. 

For those relocating to Florida, we are pleased to be able to assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation.

At our Real Estate Team; Hoey Team โ˜˜ we have been succesfully working 100% virtually / remotely for the past number of years as we continue to grow; i'm glad we already had systems in place to better help sellers and buyer with goal posts continually moving in our industry.

Article content from FR (Florida REALTORS) Newsletter Magazine, and from other sources including Hoey Team โ˜˜ 239RealEstateDeals.Com LLC & Freddie Mac / Fannie Mae - Make sure to ask us for more details; Call 239-360-5527 โ˜˜

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.SWFL-Events.Com      Feel free to share this resource page with others  ๐ŸŒด

NOTE for Buyers and Sellers: On our Hoey Team โ˜˜ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.239VT.com  ? 

For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.

P.S. --> If You'd like for us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team โ˜˜ and what we do to help or visit HoeyTeam.Net anytime.

Here is our informational Southwest Florida Website โ˜˜

Barry is a CLHMS; Click Here to see how we help with higher end properties.

Please visit our Hoey Team โ˜˜ Luxury Home Market Page by Clicking Here

Best Places to Retire? 13 of the ‘Top 25’ Are in Fla โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด Southwest Florida ๐ŸŒด

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  

We hope that you find the information useful.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team โ˜˜ 239RealEstateDeals.Com LLC

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call/Text the Hoey Team โ˜˜ at:  (239)-360-5527 

“Please Share this and our informational website with anyone who you think the info will help. 

Feel free to refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can. 

Most of our business is referrals by word of mouth; from past Sellers and Buyers who we have helped; please ask for and check out our testimonials and Sales Stats.  Thanks, Barry & Kim โ˜˜ ๐Ÿ€

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Barry & Kim, Hoey Team ๐Ÿ€ 239RealEstateDeals.Com LLC โ˜˜

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