Today the market is still very much a Seller's Market. Sellers are basically calling the shots on what they want for their property. There is still a shortage of inventory for homes and condos. People are asking if is there going to be a bubble. My opinion is NO! This market is not like the financial crisis we saw in 2007 and after.
At that time Lenders were giving loans to anyone who could breathe. What is happening now is totally different. Lenders are a lot more cautious in their loan process. They are requiring more down payments for condos and second homes which creates equity. The problem our market is having now is low inventory because we have had an influx of people moving to our beautiful State of Florida. Rates are going up, but the demand is still there. This may cause the market to stabilize somewhat on prices, but the inventory will take a while to come back. I hope this information is helpful to you today.
