Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
Bonita Springs - Estero Pending and Closed Listings Increase as Federal Interest Rates Remain Steady ☘ Hoey Team ☘ eXp Realty
Dated: June 23 2019
BONITA SPRINGS, Florida | June 20, 2019 – According to the Bonita Springs-Estero REALTORS® (BER) Media Committee, there was an increase in pending and closed listings for May 2019 in comparison to May 2018. With the federal interest rate at 2.5 percent, buyers and sellers are seeing a market that is active on both sides. An interest-rate cut further in the year would directly impact adjustable-rate mortgages, according to a June 2019 Florida REALTORS® report. Because of this, we have seen a 4.5 percent increase in pending listings and an 18.2 percent increase in closed listings in May 2019 compared to last year. Although economists predict a cut in the federal rate come 2020, BER real estate experts do not recommend waiting to buy or sell until this happens. “The market is seeing a positive influence currently based on the steady interest rate, waiting for it to lower even further could cause you to miss out on a successful, lucrative transaction now, whether it be a purchase or a sale,” states Ursula Weinkauff, BER board president.
“When buyers and sellers are trusting in the stability of the economy, both locally and nationally, we see an increase in transactions. With the federal interest rates predicted to decrease even further, we will see even more of an increase in real estate purchases and sales as 2019 comes to a close and we enter the 2020 busy season,” stated broker/owner and committee chairman, Joe Pavich, Sr.
Overall inventory in the Bonita Springs and Estero markets saw a 4.5 percent increase in homes for sale over the last year with the median sales price also increasing at 5.7 percent.
The Bonita Springs-Estero REALTORS® May 2019 Report shows these overall findings for both single-family homes and condominiums combined.
To ensure your next real estate transaction in the Bonita Springs or Estero market is a success, please email Kim or Barry with the Hoey Team ☘ Brokered by eXp Realty at or, Call/Text the Hoey Team: (239)-360-5527 with questions or for more info on Bonita-Estero or any other part of SW Florida where we specialize.
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