Housing Market Forecast
Lakeland June 2020
Before Rona and health officials separated us all by six feet, the Lakeland housing market was at its highest point in over a decade, but as most of you know, we've had a recent dip in activity. I like to call it a temporary pause.
Today we're going to take a look at how the Lakeland housing market is fairing and
where it's headed. So let's dive in.
Check it out. This chart shows us the number of residential listings added per week compared to this time last year. Of course the light blue squares are going to be this year and it starts with where all this began back on the 16th of March. We had that low, as we expected. And then the first phase of the reopening starting on the 4th of May, we started seeing increases, and as late as last week, when the second phase of the reopening of Florida started happening on the 5th of June.
All this looks really promising and you might be saying, Lisa, that looks great, but what is actually selling?
This is what I'm most encouraged about and really excited about. This chart is showing us the listing
status changes to pending. That means houses that actually gone under contract for sale. The purple squares are showing this year compared to last year. Look at this guys. As of the first opening, which is the first phase of opening starting the 4th of May, and also all the way to this week, this year is surpassing last year. This is phenomenal. Look at this stat, 103% increases from eight weeks ago.
Guys, we are in a very healthy market. I am pleased to announce that. If you are anywhere remotely thinking about buying or selling real estate right now, now is the time to do it. The bottom line is the Lakeland housing market is very strong right now. Plus all the indicators are pointing that we'll still have increased
sales through the summer.
And, if interest rates remain as low as they've been here lately, there's never been a better time for both buyers and sellers to capitalize on this healthy market. If you're thinking about selling your home and, or buying your new dream home, you'll want to check out both my seller guide and my new buyers guide.