David, Remember I responded 2 years ago when listing were at all time low and I said this was going to happen? I said when the economy gets bad they will start dumping homes in the villages and buyers won't be able to afford these prices due their main residence where they live will be declining. There has been multiple purchases by individuals and turned into rentals. These are the first ones along with estate sales that will drive down the prices. I predicted 2 years ago the home values will bottom out at 2016 levels before buyers will move in again. Anyone buying now will lose equity from here forward until the economy bottoms out. Like I said then if one plans on dying there then it's the kids problem to sell it not there's. Anyway 2 years from now will be even worse then today, hold on to your wallet here it comes!
Number of listings year over year is skewed as the number of new construction homes increases overall inventory. Stands to reason the number will always be greater as approx 2400 homes come on line each year no? I realize no one data point alone tells the complete picture - Thank for you very in depth analysis David.
I have serious concerns about the Fla housing market over the next 20 years as insurance rates get out of control and the number of retirees drops and the boomers die off. I would hate to buy now and then try to sell in 10-20 years. One of the basic rules in investing is not to try to catch a falling knife. 😮. The Villages has property to build for 20 years, but I don't know where they will get the retirees.
I Life is a guessing game along with the housing market. If you are retired and like the Villages then I say go for it and enjoy yourself. You wont be taking the house with you.
I anticipate having to sell the house to move back to the kids state or into a retirement health facility. I can't risk too many dollars on a housing market crash.
