Read a quote recently, “Moving doesn’t change who you are, it only changes the view outside your window.” At first this was comforting as a recent move is taking me away from the home I have lived in for ten years. This is the longest period of time I have ever lived anywhere. My old home has a view out of the window/doors where I do my dishes that I love, but the new home looks to a duplex next door that I am trying to figure out how to change.
As I continued to think about it – I have moved over 17 times in my adult life and I have been changed with each different location, community, friend group, church, school and the list goes on.
So one thing I do know is the place where you live will impact how you live your life and the only constant thing is change… Especially in the real estate market right now.
As we start a new year, the real estate market is once again shifting. Many experts project that rates will finally start to decline. When that happens, it’s anticipated that there will be an influx of buyers and sellers ready to enter the market.
This month we’re sharing information on the state of the housing market, historical interest rates and some well-researched stats on why the typical homeowner moves.
Below you will see information specific to our Northeast Florida area provided by NAR RPR:
The housing prices in Florida will continue to rise in the years to come, as more and more people are moving to Florida. The demand for housing in our state is high. Be careful about waiting and wishing because the housing crash is not coming.
Mortgage rates are moving in the right direction, and the time to buy is now. Florida has always been a popular state for people to retire to, but in this post pandemic, work from home environment Florida has seen a lot of out-of-area relocations for the working class.
Look how young the Jacksonville population is. There are nearly 475K adults under the age of 55 years old living in Jacksonville. The population over 55 years old is around 250K which is about half that of the younger group. Jacksonville is not a retirement city. What great proof, the time to buy is now.
At Homegrown Group we are interested in growing community, through the buying and selling of homes, building gardens, and enriching lives.
Think about putting down roots, purchasing real estate, building equity, and benefiting from owning a home, or an investment property as housing prices in Florida continue to climb.
Real estate is a beautiful hedge against inflation.
Jacksonville has a larger renting population at 43% than the national average of 35%. We know the average age of people moving out of their parents’ home is 26, and these folks are renting for nearly a decade. The median age of the first-time buyer is 35.
Why wait to build equity? That is a decade of money out the door for rent. Instead of living in luxury apartments with top of the line amenities, purchase sooner and start building wealth.
We are here to answer any questions you may have about real estate, and to walk with you on the journey through every step of your future home sale or purchase.
Please feel free to reach out any time, about anything! We look forward to connecting.