🏒 Wall Street Sees a Solid Year for Homebuilders πŸ—οΈ Barry & Kim, REALTORS®, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ Directly Serving all of Southwest Florida 🌴

Dated: February 27 2024

Views: 19

Sales of new homes rose nationally in 2023 for the 1st time in 2 years, up 4.2% from the previous year. However, fluctuating mortgage rates remain a wild card.

Florida Realtor Magazine 2024 02 26 Wall St Sees A Positive Year amidst ISO 20022 Basel III QFS Quantum Financial System XLM XRP Stellar NESARA GESARA BRICS Bretton Woods 239RealEstateDeals.Com LLC

LOS ANGELES (AP) – Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders – as long as mortgage rates don't jump back to the highs they hit late last year.

Sales of new homes rose nationally in 2023 for the first time in two years, climbing 4.2% from a year earlier, according to the Commerce Department. This bucked the trajectory of the broader housing market, which remained mired in a deep slump as sales of previously occupied U.S. homes sank roughly 19% to a nearly 30-year low.

Homebuilders were able to mitigate the impact of higher interest rates on home shoppers by lowering prices and offering incentives like paying buyers’ closing costs or buying down the rate on their mortgage. They also benefited from a chronically low inventory of existing homes on the market.

Those market trends are expected to help give homebuilders a leg up again this year, Wall Street analysts say.

Moody’s Investors Service projects that new U.S. home sales will increase 5% in 2024, citing strong demand among millennials and a healthy job market.

The new-home market’s “healthy fundamentals should result in a solid year for U.S. homebuilders,” the Moody’s analysts wrote in the report released this week.

Underpinning much of the optimism are expectations that mortgage rates will continue to decline this year.

Moody’s forecasts that the average rate on a 30-year fixed mortgage will drop to 6.4% by the fourth quarter. Forecasts by several housing economists see the average rate declining this year, though generally no lower than 6%.

The average rate on a 30-year mortgage has eased since reaching a 23-year high of 7.79% in late October. But rates have been creeping higher in recent weeks as stronger-than-expected reports on inflation and the economy have stoked worries among bond investors that the Federal Reserve will wait longer than anticipated before it begins cutting interest rates.

While higher rates are not good for homebuilders, they can still fall back on incentives to help spur sales as they did last year, said Carl Reichardt, a homebuilding analyst at BTIG,

“My expectation for 2024, which is very modest growth in new home sales, really comes from a stabilization in interest rates and continued lack of competition from existing homes,” he said.

Wall Street has cheered how homebuilders adapted to a rocky housing market last year. Shares in PulteGroup, Lennar and most other U.S. homebuilders are up substantially over the past 12 months. One prominent exchange-traded fund, the SPDR S&P Homebuilders ETF, is up roughly 48% in the same period, while the benchmark S&P 500 index is up nearly 25%.

πŸ‘‰ The Hoey Team πŸ€ 239RealEstateDeals.Com LLC β˜˜ serves all of Lee County and Collier County, including the Gulf Coast Islands here in Southwest Florida.  We Directly Help Sellers and We Directly Help Buyers; with our clients best interests in mind.

Recently as Listing Agents, Barry & Kim with the Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ helped a number of sellers who had been in Foreberance, Pre-Foreclosure and in similar difficult situations.  We were able to get all of them to a "very good place"; worry free & stress free; with excellent end results for them.   Also, Kim is a certified stager which helps us additionally on all of our listings.  Call us for more information: 239-360-5527.

With access to many different professions on our team, we help and serve people in many different situations; everybody's situation is different even in a hot sellers market as we recently experienced.

If you know someone needing help; or simply wants advice, please have them reach out to us in confidence: 239-360-5527; anytime; we continue to achieve excellent results in the communities where we list and sell across Lee and Collier Counties utilizing our Knowledge, Experience, Systems and Tools.

Sadly for some time we see a number of sellers who are not keeping up with the changes locally; often putting their homes on the market and selling them for less than what the market can bear.  Additionlly; selling a home the first day on MLS may not guarantee the best price for the seller / homeowner.  Please call Barry at 239-360-5527 for more information.

We offer a confidential / private, custom Concierge Service, if a home owners property needs work πŸ€  For every property situation, we have a solution / solutions with a proven track record ☘

Even with Hurricane Ian having passied thrugh Southwest Florida last year, as people continue to move and relocate to the general areas of Lee & Collier Counties; aka: Paradise Coast from other parts of the United States, it is important that we are able to directly serve all of the area; which we do, efficently.  We have the ability to offer many different Choices, Price-Points and Lifestyles all of which are in abundance here in SW FLA, 239RealEstateDeals.Com LLC has blanket coverage of Southwest Florida and most of Florida for that matter by being active members of four different MLS systems.  Additionally we have the latest cutting edge technologies in house with many systems in place to better serve our customers and clients who we represent.

Inventory remains steady, but is increasing overall; we do continue to list and market new South Florida property listings to the marketplace and we sell many different type homes; Resale & New Construction; Multigenerational Family Compounds, Single Family Homes, Villas, Townhomes and all Condo types, from low rise, to Waterfront high rise right on the Beach / Gulf Coast.  We have something for everyome from beach lovers, boaters, golfers, nature lovers to farmers and horse lovers.

We continue to see many people planning ahead, and buying that second home now, rather than waitiang as they were planning to do; especially with Snowmads and Zoombirds working from home.  Previously we had Snowbirds; interesting how terminology keeps changing / evolving.  Hurricane Ian prompted some buyers to start looking again, while other buyers had pulled back momentarily.

Interest rates increases have sadly driven some buyers out of the market place, we do see price reductions on some overpriced and / or under marketed listings.  Even with recent interest rate hikes, buyers are still looking, but showing more prudency than before as we Secure Real Estate Deals for them.  Properties are still selling as it trends towards a more balanced market.

Relatively low inventory overall is still a challenge for active buyers who are not prepared on some property types; but if prepared you are ahead of the game; ask how we can help with all of that.  We do see more listings coming to the market here in Southwest Florida, so, that is good.

We recently got a number amazing deals for buyers; even during the recent Hot Sellers Market; and we are working on others as our market changes a little having gone through a hurricane.  There are deals out there; if you work with us, we will definitely find them for you. 

For those relocating to Florida (and to other areas), we are pleased to be able to efficently assist homeowners in other parts of the United States who need to sell to buy here; please reach out today for more information and how you can have a smooth, non-stressful transition / relocation with the best available representation.  Call Barry at 239-360-5527.

At our Real Estate Team; Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ we have been succesfully working 100% virtually / remotely for the past number of years; i'm thankful that we already had systems in place to better help sellers and buyer with goal posts continually moving within our industry / profession.

Article content from FR (Florida REALTORS) Newsletter Magazine, and from other sources including Hoey Team, 239RealEstateDeals.Com LLC & Freddie Mac / Fannie Mae - Make sure to ask us for more information on how it may effect you; Call Barry at 239-360-5527 ☘

Click Here to Find Your Estimated Home's Value, Instantly    

For those Living in or Visiting Southwest Florida wanting additional resources, or a list of places to see / visit:   www.SWFL-Events.Com      Feel free to share this resource page with others  🌴

VIRTUAL OPEN HOUSE Page with Detailed 3D Tours for all our Listings: ? www.239VT.com  

For more Real Estate related information, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number one state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know..  Much of our business is based on referrals from past customers, friends, and Realtors.

P.S. --> If You'd like for us to create a Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details https://HoeyTeam.239RealEstateDeals.Com

CLICK HERE to Visit our High Definition Virtual 3D Open House Tours Page 24/7

Click Here for our most recent Market update Report for Southwest Florida and beyond.

We do not discriminate on price, we help homeowners and renters in all price ranges; Click Here for more information on the Hoey Team ☘ and what we do to help or visit www.239RealEstateDeals.Com anytime.

Click Here for our informational Southwest Florida Website ☘

Barry is a CLHMS; Click Here to see how we help with higher end properties.

Please visit our Hoey Team ☘ Luxury Home Market Page including Luxury Home market Reports for Naples, Marco Island and for Lee County by Clicking Here

Best Places to Retire? 13 of the ‘Top 25’ Are in Fla β˜˜ Hoey Team; 239RealEstateDeals.Com LLC πŸŒ΄ Southwest Florida πŸŒ΄

Barry has earned the Military Relocation Professional Certification, Please Share or Visit Here to see how we can better Help Veterans and Active Duty Servicemen and Servicewomen β˜˜ Hoey Team; 239RealEstateDeals.Com LLC πŸŒ΄ Serving Southwest Florida πŸŒ΄

Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website.  

We hope that you find our Resources and Information useful. Feel free to share.  If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team β˜˜ 239RealEstateDeals.Com LLC

Email us at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com or Call or Text Barry ☘ at:  (239)-360-5527 

“Please Share this blog and our informational website with anyone who you think the info will help. 

Please refer any family or friends; it is the greatest compliment that you can give to us; we really appreciate referrals from Past Customers, Friends and Fellow REALTORS, who we help in any way we can.

🌐  www.HurricaneHelpFL.com  πŸŒ€  Post Hurricane Resources and Tools Library πŸ›  Barry Hoey, Broker Owner πŸ€ 239RealEstateDeals.Com LLC ☘ Serving Lee and Collier Counties, Southwest Florida 🌴

Blog author image

Barry & Kim, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘

"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you an....

Latest Blog Posts

πŸ“ƒ What Not to Do After a Mortgage Preapproval πŸ€” Barry & Kim, Realtors, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ Directly Serving all of Southwest Florida 🌴

Don’t jeopardize your chances of getting your dream home after getting preapproved for a mortgage by taking out new lines of credit or other missteps.NEW YORK -- If you're ready to shop for a

Read More

πŸ€” Should Homebuyers Wait for Lower Mortgage Rates ❓ Barry & Kim, Realtors, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ Directly Serving all of Southwest Florida 🌴

Today’s average rate on a 30-year home loan is just under 7%, not far from the historical average.  Still, some homebuyers say they’re waiting for rates to drop.Shop for a home now

Read More

πŸ’Ž LUXURY MARKET REPORT πŸ’Ž Lee and Collier Counties 🏰 Barry & Kim, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ Southwest Florida 🏝️ April 2024

Welcome to our Detailed, Custom, Naples Area, Marco Island & Lee County Luxury Home Market Report "Blog Update" for April 2024; your up to date guide to Luxury Real Estate market data and trends

Read More

πŸ€” What to Know About Buying Investment Property πŸ’° Barry & Kim, Realtors, Hoey Team πŸ€ 239RealEstateDeals.Com LLC ☘ Directly Serving all of Southwest Florida 🌴

Building a real estate portfolio can provide passive income opportunities but also comes with challenges. Investing should be done strategically.Real estate investments can be an attractive way of

Read More