Are you searching for a new home or are you a first time home buyer ready to enter the real estate market? Let's take a look at how the the real current market rates and housing trends affect the Daytona Beach real estate market.

The latest figures are in for the Real Estate Market!  Freddie Mac just released the latest news on the Primary Mortgage Market Survey or PMMS.

  • According to the survey, the 30 year fixed rate mortgage hit another decade low to 4.27% and the 15 year fixed rates dropped to 3.72% another record low.
  • Home sales are on the rise from August at 7.6% according to the National Association of Realtors. Despite the ailing labor market and the end of the homebuyer tax credit sales are on the rise but slow and gradual.
  • First time home buyers seem to be on the rise and sizing down. The rise in the first time home buyers segment  are buying less expensive and  smaller homes with an average of 1874 sf. Is this a sign of buyer responsibility?
  • Mortgage applications for home purchases are up from August to the week of October 1st with increase in homes under contract and pending sales. When pending home sales rise it indicates a stronger pace in home sales - a forward look at homes that are under contract which should close in one or two months.

This is a fantastic time for those who can buy Daytona Beach homes and Daytona Beach condos. Buyers definitely have an edge on sellers for now. Housing affordability has improved due to low interest rates and affordable home prices.

If you have any questions about Daytona Beach condos, Ponce Inlet condos, Daytona Beach Shores condos for sale, or information about Daytona Beach Real Estate give our Port Orange Real Estate Team a call at 386-316-5968 or 386-316-5967.

Tell us what you're looking for and our Daytona real estate experts will search the Daytona Beach MLS and send you detailed information on homes and condos that meet your criteria.

Posted by Mike Gagliardi on

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