Real Estate Trends
In many large cities, home prices have outpaced income at an incredible rate. In Port St Lucie, incomes have risen 6 percent, while home prices have increased 21 percent since March 2021. Active inventory is down 26% since March 2021.
Even with a downturn in the real estate market looming on the horizon, home sales are still headed for another record year.
The first sector to show slowing is the high-end home market. Because of big-ticket properties, house auctions nationwide have surged.
Low interest rates are the only continuing positive trend of the housing market. Low rates average now less than 6 percent for 30-year fixed-rate loans, the lowest since the 1960s. Interest rates are expected to higher at the end of 2022.