Home sales in Central Florida continue to decline week after week. In my neighborhood alone, there are eight homes for sale by six different companies. I have seen homeowners do everything from putting in new sod, to trimming trees and offering 106% financing to potential homebuyers.
Its not just desperation. People say its a buyer’s market, but it doesn’t seem to be, with all the homes in the area still being unoccupied. I don’t think the market benefits anyone right now. Granted, homebuilders are offering everything from free upgrades to free in-ground pools.
My husband and I would love to sell our home and move into a bigger home in one of the newer subdivisions in Sanford, but we know we wouldn’t get a fair price for our current home.
During the last quarter over forty states saw a drop in home sales. Florida took the biggest hit. Yet, you wouldn’t think that homes aren’t selling if you look around. Everywhere you go, you can see new homes and new subdivisions being added. Why build more when what you have isn’t selling is my question.
Builders continue to build new homes because contrary to the market sliding down, sales continue to stride. Just because the housing market is slow, doesn’t mean it has stopped or doesn’t mean they are not still making money! This is actually a good time to buy if this will be your first home purchase; not if you’re buying contingent if you sell your existing home.