The housing market is booming. People are buying up homes so fast there aren’t many left on the market.
If there’s a place to live in Southwest Florida and it’s for sale, it’s going to sell and fast.
Realtor Ty Wespiser told us he’s busier than ever.
“It’s like nothing I’ve ever seen before,” said, Wespiser, the co-owner of Barclay’s Real Estate Grouip.
People are pouring into the region and want to buy.
“You’re finding yourself in situations where you have anywhere from 10 to 15 people bidding on a property at the same time,” Wespiser said.
Wespiser said demand is overwhelming the supply of available homes. So when someone puts up a for-sale sign, it’s there for days, maybe a couple of weeks, certainly not months.
“The monthly supply of homes has gone down from six months to two months,” Wespiser said. “So we’ve only got roughly a two-month supply of houses. That’s a significant decrease.”
With a housing market boom underway is a crash to come? Many of us remember or still feel the sting of the foreclosure crisis that hit Southwest Florida hard.
Realtor Jason Jakus, the owner of Next Home Advisors, told us don’t bank on that happening again.
“There was a lot less regulation around getting a mortgage and obtaining that housing,” Jakus said. “I think we’ve got into a much different place than we are today. Of course, you had a lot of jobs, layoffs and things of that nature, multiple prons happened at the same time that kind of causes a domino effect.”
If you’re looking to sell, realtors told us the time is now.
“People are getting maximum dollars for their home for sure,” Jakus said.