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What’s Up With Housing?

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If buyer demand continues to outpace the current supply of existing homes for sale, prices will continue to appreciate. Nothing nefarious is taking place. It is simply the theory of supply & demand working as it should.
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Home builders report that customers are more cautious than before the crash and prefer smaller, value-packed homes.
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After two months of decline, consumer sentiment among Floridians increased six-tenths of a point in April to 98.1 from a revised figure of 97.5 in March. Among the five components that make up the index, three increased and two decreased.
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Research shows that millennials value organic, unplanned, authentic, and experience-based housing amenities the most. These amenities are generally not expensive.
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“In today’s competitive housing market, understanding what homes may command a premium or attract multiple offers can be hugely beneficial to buyers.”
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A low home appraisal can ruin the sale of a home. You can protect yourself from low appraisals. Here are some suggestions for buyers and sellers.
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What’s Up With Housing?

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Affordability and inventory is bleak, but rising interest rates and home prices signal a strong economy.
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The Pinellas real estate market is continuing to see a trend of higher sale prices and a shrinking inventory for both the Single Family and Townhome/Condo segments. The Median Sale Price for Townhomes/Condos was up 14.4% in March 2017. The Median Sale Price for Single Family Homes was up by 8.7% from last year.
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If consumer spending is the grease that moves an economy, the U.S. should keep growing for at least the next six months – the number of survey respondents who expect a loss of income over that timeframe hit an 18-year low.
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More wealthy people seem interested in a Fla. home – and the state’s lack of an income tax – now that the IRS caps local and state tax deductibility at $10,000.
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Public art can spark revitalization in struggling neighborhoods and turn vacant land into a place where people want to live, work and play.