FEBRUARY 2024 was a build up of transactions.

Hello everyone,

As always, I am happy to write to you in hopes that I will inspire you to think and possibly to move forward toward accomplishing your dreams. Whatever dreams you may have, “Everyday is a good day to buy and sell real estate”.

Today, I will be reflecting on February 2024 as a whole. I had predicted a build up of transactions in February 2024 for the real estate market for the Emerald Coast of the Florida Panhandle and my research of February shows Santa Rosa County closings increased by 30 transactions, and Escambia County closings also increased by 56 transactions, while Okaloosa County closings increased a modest 19, all in the first week of March compared to the last week of February. Listing built up in February and closings increased about 30 days later.

Mortgage interest rates are averaging around 6.5% across the board with average Conventional Mortgage rates around 7.0%. I still think that the new normal for interest rates will be around 6.0% for 2024, and who knows, it may stay around for a while longer. In my opinion, I do not see interest rates back around 3.0% – 4.0% which were abnormally low. FHA average rates are around 6.56% and VA average is 6.57% at the time I wrote this blog. 3-6-24 at 9.:41 am. My advice?….stop waiting to time the market, because most people are not that lucky. Although, I do wish you the best of luck always.

Remember my moto, “work to live, don’t live to work”.

I wish you the best and I am always committed to helping you get what you want!