Rod Rodriguez, Realtor

REAL ESTATE MARKET LOOK 27MARCH26
TAMPA/NEW PORT RICHEY

The national real estate market holds a 3.8 month supply and remains a seller's market. The local market in New Port Richey and the Tampa Bay area has a 5.1 month supply of inventory. This creates a balanced environment for transactions. Neither buyers nor sellers have a strict advantage.

Economic data does not indicate a housing bubble. A bubble requires a massive oversupply of homes and rapidly decreasing buyer demand. The current market features stabilizing prices and increased days on the market. The median listing price in Pasco County is $347,250. Homes in New Port Richey are taking 51 days to go pending. Buyers have time to evaluate properties. Sellers must price their homes using exact current comps to get an offer.

Three specific factors will impact the Tampa and New Port Richey markets this week:

📈 Mortgage rates hit a three-month high, pushing the daily average over 6.5 percent. This directly reduces buyer purchasing power and will remove some active house hunters from the market.

📆 The expiration of FHA COVID relief programs is triggering an increase in pre-foreclosures and
short sales across Florida. You will see more distressed properties entering the local inventory.

💵 Florida home insurance premiums are showing signs of stabilizing. Property insurance litigation dropped 80 percent recently. This reduction gives buyers more predictable carrying costs when calculating their monthly payments.

Like a relationship, don't ignore the cracks! Spackle doesn't fix everything...but mostly everything...except relationships.
Good Article below!

When You Shouldn’t Ignore the Cracks in the Wall Not all cracks are the same. Learn how to separate minor cosmetic imperfections from more significant structural problems.

Welp, answer your phone...

Getting in the house one way or another

🏡 Home builders are offering AMAZING deals right now! Want to know more?
➡️ Message me today!

For a limited time, Meritage Homes is offering the chance to lock in a 30-year fixed mortgage rate of 5.875%/6.32% APR on a brand new home. No hidden fees and no surprises. With our rate, what you see is what you get (even if your credit score isn't perfect). Terms and conditions apply. Visit meritagehomes.com/rate-lock for more details. 🔒

Bam!

👏👏We've done it again! 🎉 SOLD! 🎉We broke a neighborhood sales record AND had this beautiful home under contract in less than 2 weeks. Looking for a Real Estate team that will go to work for you? Look no further. Message Realtor, Cari Rodriguez or Rod Rodriguez, Realtor and ask what we can do for YOU!

A little horror before Halloween!

10 Horrifying Home Design Trends: 2023 Edition Designers say these styles need to be ghosted.

I seriously work with the absolute best brokerage!

We want to wish a happy birthday to Rod Rodriguez, Realtor, we hope you had an amazing day yesterday!