Causes
As for the OP on the causes for the inventory glut with homes here in the Villages:
Interest rates affect the market even if the Villages buyers themselves intend to pay cash (less than 50% do). The prospective buyer often may be a retiree and need to sell their home up north. The markets nationwide are unaffordable for most of our youth tying up a retirees hands and their money.
Reoccurring costs like insurance, bond and taxes are on the high side. A buyer will see a new home for 429,000 only to find the actual cost with the bond (around 50k) is 479,000. Not such a deal after all.
The egress of retirees and some still working from Florida (Not just Canadian Nationals and workers required to return to work)is increasing.
Just a few fun facts about the Villages
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.. though we cannot, while we feel deeply, reason shrewdly, yet I doubt if, except when we feel deeply, we can ever comprehend fully."—Ruskin
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