3 Bedrooms | 2 Bathrooms | More Than 2,000 Sq. Ft. | Fenced Backyard | Optional Boating AccessPresented by Michael Downer, Broker Associate | Downing-Frye Realty | Quintessential NaplesMore Space,
Dated: October 20 2022
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Fannie Mae’s Economic and Strategic Research Group releases a monthly forecast detailing its expectations for the economy and housing market. According to the group’s most recent release, there are many signs that the once-hot housing market is beginning to cool off, including a rising number of active listings, fewer sales, and an increasing number of listings that have undergone a price cut. But despite several signs that things are beginning to slow down, other indicators have yet to show any meaningful change. Home prices, for one. “Home price changes tend to lag changes in home sales as prices tend to be ‘sticky,'” the group says. “Sellers are often reluctant to cut their asking price, and buyers’ expectations are based on recent comparable sales.” In other words, despite rising inventory and fewer buyers, home prices have yet to respond to changing conditions. Still, Fannie Mae expects they will decelerate as the year goes on. They also expect buyer demand to cool further. But while the market’s expected to continue to loosen through the end of the year, the group expects the changes will be gradual as we head into 2023. The MikeDowner.com website is the most comprehensive online source for Southwest Florida real estate information and services. Whether you are looking for the latest sales, trends, or homes for sale in Collier, Lee, Charlotte, or Broward Counties in Florida, Mike Downer and Coldwell Banker Realty have it all at your fingertips. Browse information regarding short sales, foreclosures, new construction, investment property, land sales, or commercial locations throughout Southwest Florida plus much more, at www.MikeDowner.com or call Mike at 239-722-6453.
Your Luxury REALTOR®, Trusted Advisor — Quintessential Naples Team at Downing-Frye Realty®Michael "Mike" Downer is the REALTOR® you want in your corner when buying or selling real es....
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