Positive Year Expected in the Oviedo Real Estate Market and Others

The Oviedo real estate market as well as the other real estate markets in Florida are feeling the positive effects of the drop in inflation along with loan delinquencies, giving American consumers a boost in their financial force.

According to the Conference Board Consumer Confidence Index® increases in consumer confidence are continuing to climb. December’s number moved upward to 96.3 and January’s numbers are showing a moderate increase to 98.1.

This plays in well with what the Personal Financial Satisfaction Index (PFSi) reports on the 2015 fourth quarter that Americans personal financial satisfaction has risen significantly from 2014. Analysts report nearly a 134 percent increase when comparing the fourth quarter of 2015 to the 2014 fourth quarter. The number shows 2015 fourth quarter registered its PFSi at 15.9 versus the 2014 fourth quarter level of 6.8.

What are Consumers Expecting in 2016

Consumers who are expecting the percentage of business conditions to improve over the next six months is climbing, which is places an optimistic spin on the real estate market for 2016. Buyers who see this upcoming year as one that will play out advantageously for business rose from 14.5 percent to 16.2 percent. On the other hand, consumers expecting worsening business conditions for the year ahead edged down slightly, moving from 10.3 percent to 10.8 percent.

Consumers’ outlook for the labor market was also slightly more optimistic. Those anticipating more jobs in the months ahead increased from 12.4 percent to 13.2 percent

Housing Market Continuing to Progress

Looking back over the past year of 2015, the U.S. housing market is making improving progress. Some markets are doing better than others, including the Florida housing market.

Oviedo real estate and other property markets across the Sunshine State are expected to be one of the top markets for 2016, according to the Florida Realtors® Mid-Winter Business Meeting. There is rising demand for homes for sale in Oviedo, means there is ample opportunity for home owners to sell and move up into their own new Oviedo real estate property.

The positive gains in recovery along with good fundamentals and this continual positive momentum is helping encourage the Oviedo real estate market as well as markets across the country toward more favorable economic outcomes than it has in the last 10 years.

Consumers Finding Financial Sources More Accessible

Securing a loan has been easier for home buyers, making buying Oviedo real estate more accessible than it may have been in over a decade, according to the Census Bureau’s Quarterly Sales by Price and Financing and the National Association of Home Builders (NAHB) calculations.

Although new home sales that were backed by the Federal Housing Administration (FHA) loans remained effectively unchanged for the fourth quarter of 2015 at 18,000 for its quarterly count and a 16 percent market share for the fourth quarter; FHA loans are higher from a year prior than the approximate market share by about 10 percent.

Talk to a Real Estate Professional

With all that 2016 has in store for the months ahead, why not step in a become a part of the success? Talk to a Berkshire Hathaway HomeServices Florida Realty Real Estate professional in your area that can help you assess your local market to help you determine what is the best move for you.

Florida Realty News
Florida Realty News
Berkshire Hathaway HomeServices Florida Realty, a wholly-owned subsidiary of WCI Communities, has over 39 locations and more than 1,650 real estate sales professionals and team members serving 17 counties throughout Florida.
Show Buttons
Hide Buttons