We live in interesting times. Mortgage interest rates are finally returning to "normal", about 6% per annum - at least for now. Interest rates may in the near future go higher. This will soften residential real estate sales in most of the country both in price and number of units sold. That means that many potential frogs won't receive as high a price as they may have a month or two ago and it may take months instead of days to sell their homes. On top of that the financial markets are (finally) heading south which likely will affect the savings and retirement accounts of many people hoping to retire in the near future. What impact will this have on the prices and number of homes sold in The Villages? Will it be like 2007 - 2008?
"2008: 2,238 New Home Sales
2007: 2,403 New Home Sales
Ah, 2007. Not exactly my best year, nor was it for The Villages.
This year The Villages saw the largest drop in year-over-year sales, by selling 1,560 fewer homes than in 2006.
December 2007 marks the “official” start of The Great Recession, but all you had to do to know that a recession was going on before then was to be selling real estate in Florida like I was.
2006: 3,963 New Home Sales
2005: 4,263 New Home Sales"
From:
The Villages New Home Sales: 2003-Present | Inside The Bubble