Boca Raton Residential January 2016
·
Market conditions vary
across local markets and states, but the REALTORS® confidence and traffic
indices indicate unchanged market activity in December. Boca Raton Market still on a strong pace.
·
Sustained job creation
and the low interest rate environment appear to be sustaining housing demand,
even as the lack of inventory and tight underwriting standards are constraining
market activity.
·
The TILA/RESPA
Integrated Disclosure (TRID) regulations which came into effect on October 3,
2015 appear to have lengthened the closing period.
·
The share of first-time
home buyers slightly rose to 32 percent of sales.
·
Properties typically
were on the market 58 days nationally compared to 66 days a year ago, an
indication that supply remains tight relative to demand.
·
Tight inventories,
decreased affordability, and more stringent credit standards continued to be
reported as key issues affecting sales, especially of first-time homebuyers.
·
Still, respondents
were broadly "strongly" confident about the overall outlook for the
next six months, especially in the single-family homes market.
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