SMR's bid to build 5,000 homes in eastern Sarasota County clears hurdle

[MOforthewin]

Originally Posted by Sunshine Rules

Realtor.com just came out with a chart of the top 20 locations where inventory of homes for sale has increased the most in the past couple of months. 8 of the 20 locations are in FL.

#5 -- Lakeland at 142% increase

#7 -- North Port at 132%

#9 -- Fort Myers at 119%

#12 -- Tampa at 101%

#14 -- Naples at 93%

#16 -- Port St. Lucie at 91%

#18 -- Panama City at 76%

#20 -- Jacksonville at 75%

3 of the are in Southwest Florida too! Naples, North Port, and Ft. Myers. Why do you think the inventory has increased so much? People who moved down here the last 5 or so years sick of the humidity, traffic, etc?

[beach43ofus]

Originally Posted by MOforthewin

3 of the are in Southwest Florida too! Naples, North Port, and Ft. Myers. Why do you think the inventory has increased so much? People who moved down here the last 5 or so years sick of the humidity, traffic, etc?

-owners died

-owners had health issues and/or got so old, they needed help, so they returned North to be closer to family

-owners having to sell, and move into assisted living

-more new homes came on the market as supply lines improved

-investors selling after this markets price peak became known

-owners realizing the peak passed, but still want to take big gains to bolster nesteggs, & move to cheaper states

[AngelaRetired]

Originally Posted by beach43ofus

-owners died

-owners had health issues and/or got so old, they needed help, so they returned North to be closer to family

-owners having to sell, and move into assisted living

-more new homes came on the market as supply lines improved

-investors selling after this markets price peak became known

-owners realizing the peak passed, but still want to take big gains to bolster nesteggs, & move to cheaper states

[bbronston]

Originally Posted by MOforthewin

3 of the are in Southwest Florida too! Naples, North Port, and Ft. Myers. Why do you think the inventory has increased so much? People who moved down here the last 5 or so years sick of the humidity, traffic, etc?

Inventory increases seem to be due to three reasons, from what I’ve seen. First reason is probably the most obvious…raising mortgage loan rates have shot up and that chills the market to a degree. The second is the tendency for folks to jump on the bandwagon as sellers once they think the market has peaked. They figure that values are at their highest so they decide the time is right to jump in. However, the third reason is the most impactful. New home builders are not seeing buyers lining up like they have been seeing so they are listing their inventory homes on the MLS. With all the under construction properties being added, it skews the stats.

[JPrzybylski07]

Originally Posted by Sunshine Rules

Realtor.com just came out with a chart of the top 20 locations where inventory of homes for sale has increased the most in the past couple of months. 8 of the 20 locations are in FL.

#5 -- Lakeland at 142% increase

#7 -- North Port at 132%

#9 -- Fort Myers at 119%

#12 -- Tampa at 101%

#14 -- Naples at 93%

#16 -- Port St. Lucie at 91%

#18 -- Panama City at 76%

#20 -- Jacksonville at 75%

These number don’t really give any perspective. What instead of 400 units for sale in Naples now there is 750? Big whoop. Sure inventory is going up but give some more perspective. How many months supply? How many actual listings?

All these people who hastily moved down here will want to move away in 3-5 years! The endless summers will get old and being drowned in humidity for 8 months a year will wear people down! I’m almost a year living in Orlando after living 7 in Naples and even here in Orlando it’s noticeably cooler throughout the year especially in winter where it’s an actually cool down unlike Naples that gets 1 week of “winter” weather. People who are use to the change of seasons are going to miss the change of season and look at states like Tennessee, North Carolina, etc. Been that way and will continue, they are called half backs.

Anyways there’s my little rant for the day.

[gypsychic]

Originally Posted by Sunshine Rules

Realtor.com just came out with a chart of the top 20 locations where inventory of homes for sale has increased the most in the past couple of months. 8 of the 20 locations are in FL.

#5 -- Lakeland at 142% increase

#7 -- North Port at 132%

#9 -- Fort Myers at 119%

#12 -- Tampa at 101%

#14 -- Naples at 93%

#16 -- Port St. Lucie at 91%

#18 -- Panama City at 76%

#20 -- Jacksonville at 75%

I had to read your post again, it mentions "the past couple of months." At first I was thinking it meant in terms of new homes being built.

As most know, we live in Lakeland now, which has been at or near the top of all kinds of lists for being one of the fastest growing metros in the country. However, these days the RE market is cooling off here, more homes coming on the market and sitting instead of selling in a day or two. Homes that were crazy overpriced are lowering a little. Plus, more people either already bought here or can't afford homes with higher interest rates. The same can NOT be said of rentals - those are in short supply, and sky-high. No average Lakelander can afford those rental rates.

There are quite a few apartments slated to be built here, I just hope some are earmarked as "affordable" for the working class and lower income here.

[AngelaRetired]

Originally Posted by gypsychic

There are quite a few apartments slated to be built here, I just hope some are earmarked as "affordable" for the working class and lower income here.