Real Estate Market Update - Third Quarter 2022
 

I don't think the Third Quarter Market Update is out yet.

Does anyone have any predictions?

Pre-Owned Homes Pending
Pre-Owned Homes Sold
Average Sales Price
Average Days on the Market

New Homes Pending
New Homes Sold
Average Sales Price
Average Days on the Market

Prices starting to trend downward.

Developer has been pricing new homes for far less than resales. Buckle up

They have always been priced below re-sales at least for the last 5 years and when they get into areas such as DeLuna and Chitty Chatty where there are huge power lines and the Turnpike they are priced considerably lower than resales. If you check their new home open houses in the Daily Sun that are lower in cost you will see that most of them are in the noisy areas of DeLuna. You're not going to see that in villages like Richmond where it's basically a lottery to get an available lot. It's all location.

That is why I am only looking to buy new (hopefully this month) —resale just doesn’t seem to be a good idea right now, as the price of new is far lower than resale.

We are talking 100k less than resales. Not even close

Location, location, location.

And upgrades, upgrades, upgrades...

I totally agree. Anyone who hasn’t expended the time, potential mess and money involved with those upgrades hasn’t a clue what all those extras involve. But they’ll find out when they buy new and dip their toe in the remodeling/upgrade pool.:22yikes:

But the bond doesn’t affect price.
A $30,000 bond on a new house vs a $0 or $10,000 on existing.

I never said that...

Hmm do you have a witness who didnt see you say that?

When 30yr mortgages dipped below 3% it of course stimulated lot of home buying , demand raised prices, now a 30yr mortgage is about twice that lowering demand and prices, my understanding is that all real-estate markets are to one extent or another different and that's true for the Villages as well, the question is where is the bottom for home prices , where's the top of interest rates ? recession or no recession ? , or to what extent, no matter how unique the Villages those factors will tell the tale . Just my opinion 3% = cheep money suggests leverage not a bad idea, 6%+ maybe not

I guess I should have sold both of my homes last year. But if I had, I'd be living on the street now.

What are we comparing? Are prices for new homes less than they were a year ago, comparing similar models in similar neighborhoods?