Sarasota Real Estate Information

The Housing Market is Back and Everyone is Agreeing

Read what the major publications are writing.

US News and World Report  December 19, 2012

“Rising home prices should motivate would-be sellers to put their homes on the market and it also stimulates new construction, both of which will expand inventory, boost sales, and give house hunters more to choose from.”

CNN Money Magazine  April 8, 2013

“Inventory is tight, and bidding wars are back in some parts of the country.  To snag your dream home, you’ll have to pay up and contend with continuing strict loan requirements.  The bright side: Despite rising prices and mortgage rates that are edging upward, buying a home is still cheaper than renting in the majority of the top 100 markets.”

Bank of America   March 18, 2013

“Home prices continue to show momentum amid shrinking inventory and record high affordability, prompting us to revise up our original forecast (from 4.7%) for home prices  this year.  We now expect national home prices to increase 8% this year.”  

Sarasota Herald Tribune   April 22, 2013

“In Sarasota County alone, the median sale price for a single-family home grew $35,100 over the year to reach $210,000 in March-the highest level in five years.  In Manate County, the median sales price similarly rose by $5,000 to $185,000.  Charlotte County, which has been slower to rebound, also reported a median price increase or 13 percent, or about $14,000 during the past 12 months, records show.”

DSNews.com   March 8,2013

“Strong demand and tight inventory have brought existing home sales back to ‘normal’ levels, and further gains are possible….These conditions, combined with broader economic indicators, lead Capital Economics to revise its previous forecast of a 5 percent price gain this year up to 8 percent.”

Jed Kolko, Chief Economist at Trulia   March 20, 2013

“Although buying a home is still cheaper than renting, the gap is closing.  In 2013, home prices should rise faster than rents, and mortgage rates are likely to rise in the next year as the economy improves.  People who didn’t buy a home last year may have missed the bottom of the market, but they haven’t completely missed the boat.  Buying remains cheaper than renting in all 100 large metros.”

Investors Business Daily   April 22, 2013

“Median home prices (in March) swelled 11.8% to $184,300, the biggest year-over-year gain since November 2005.  That reflects in large part the tight inventory of homes.  But those higher values appear to be spurring more owners to put their homes and condos on the market.”

Housing Wire.com   March 20, 2013

“Strong momentum in home prices as well as housing activity gave Morgan Stanley analysts enough confidence to upgrade their home price appreciation projections to roughly 7% (from 5%) for 2013.”