[Robnlaura]

According to a new report released by Florida Atlantic University’s College of Business, buyers in Jacksonville are paying 23% more money than they should be for homes. Homes in Tampa are overpriced by 32%, Orlando by 21% and Miami homes and 16.9% overvalued. One real estate economist is urging Floridians to rent because homeownership is too expensive right now.
Low inventory, low interest rates and historically high demand for homes have created a housing market that hasn’t been this overpriced since the leadup to the 2008 economic crisis.

[Robnlaura]

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch

[asianthree]

Four homes we looked at went pending, in a few days. $825,000 and up. Just received a email from MLS three are back on the market. I have no interest in them so didn’t ask why the return list

[dewilson58]

Originally Posted by Robnlaura

[url=https://on.mktw.net/2Wrif8F]Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch[/url]

Not because it's cooling, there is limited inventory. Hot, Hot, Hot.

[Velvet]

Well if Zillow or Trulia or Realtor are any indicators, looking at my house, the value they estimate seems to go up every 3 days or so, including today.

[Timothyimitchell]

Originally Posted by dewilson58

Not because it's cooling, there is limited inventory. Hot, Hot, Hot.

Limited inventory hurts. Lack of villas... Look at the pricing. Top of the chart. Throw a price on it see if it sticks. You will see decreases on homes over 350K. Watch.

[dewilson58]

Originally Posted by Timothyimitchell

Limited inventory hurts. Lack of villas... Look at the pricing. Top of the chart. Throw a price on it see if it sticks. You will see decreases on homes over 350K. Watch.

[Beyond The Wall]

Sellers don’t set the market, buyers do. Also the TV new construction acts as a price control.

[vintageogauge]

Originally Posted by Beyond The Wall

Sellers don’t set the market, buyers do. Also the TV new construction acts as a price control.

That new home price control only helps those in front of the line.

[Orvil]

New home market prices have no relation to resale prices. They are two different markets. They are not comparable. Any correlation is coincidental.

Resales are subject to depreciation. Resales in The Villages are also subject to seasonality. You are starting to see some reduction in pricing on individual resale units. This simply reflects overpricing on the part of the seller. Probably due to condition or locational factors.

One element that I do see as a drag on individual units is the presence of wall paper. Buyers see it as trouble, effort and cost. Most don't want to buy a renovation project. Flippers aren't going to chase prices.

I also see resales with older roofs as an issue. Sellers can't expect top price with an old roof. In this market, an old roof is defined as anything over 8 years. Insurance coverage is driving this issue.

Every sale is subject to supply and demand. Both new construction and existing homes are affected by the supply and demand market force. But, the two markets are separate. Currently, both markets are out of balance. There are more buyers than sellers in both markets. They will balance at some point.

[Babubhat]

The ratio of US new to existing home prices is below one. This trend doesn’t bode well for existing-home price appreciation.

Source:
@MizuhoAmericas

[Bilyclub]

If this thread sticks around for a year or two it might be true.

[Normal]

Originally Posted by Robnlaura

Sales of new homes slump to the lowest level since start of pandemic. High costs and low selection are to blame - MarketWatch

Prices have increased in the past month to crazy numbers in the Villages.

Homefinder - The Villages(R) Homes and Villas for Sale

Water views are 600s and 700s
Power wire views are averaging the 500s

Ya, there is little cooling down during the summer in TV

[Timothyimitchell]

Originally Posted by Normal

Prices have increased in the past month to crazy numbers in the Villages.

Homefinder - The Villages(R) Homes and Villas for Sale

Water views are 600s and 700s
Power wire views are averaging the 500s

Ya, there is little cooling down during the summer in TV

BINGO.
Big mistake on everyone's part.

[Timothyimitchell]

Originally Posted by Bilyclub

If this thread sticks around for a year or two it might be true.

Wrong. Fair prices will sell houses. MAJORITY are not fair. Keep watching.