Hello, Hope you had a great week!
                      It's that time of year again, the clowns are back. By that of course I mean Ringling Bros. and Barnum & Bailey® presents The Greatest Show On Earth
They are in town just this weekend & you can get info and tickets in the link above - now on to real estate.


Home sales in 2023 hit a 20 year low according to data released just today by the National Association of Realtors® While there were less transactions home prices still ticked up over 4% since December 2022- 1st time homebuyers normally make up about 40% of the market however in 2023 they were only 29% of the transactions.
My quick thoughts on this: It's still mostly an affordability issue. Current homeowners are still in a great spot with low mortgage rates if they have mortgages at all. Over 40% of homes in the US do not have any debt on them. Locally the most negatively impacted are active duty military. The Navy is Jacksonville's largest employer &  VA loans are making up less and less of our transactions every year, many services members are renting during their tours instead of buying. In 2020 5220 VA loans were closed in our local MLS in 2023 only 4108.



Foreclosures:
 There are 27 foreclosed properties on the market right now you can see all of them here.

Sellers:
Staying on top of the value of your home has never been easier, our family real estate team has partnered with Homebot to get you the most up to date info on your home and your equity position.
Find the value of your home here

Mortgage News:
Mortgage demand jumped 10% week over week with rates dropping to 6.75%
If you need info on obtaining a mortgage click here.

Have a great weekend, please give me a call if you ever need anything.

Thanks

Wes Broxson
Realtor® | Broker Associate
LPT Realty
904-716-3387
 
 
Keep up on your home's value Here
 
 
Newest homes for sale in NE Florida -Click Here
 





Call The Broxson Team at 904-716-3387