Market Trends: Where Are Ocala Home Sales Headed?
Ocala home sales stats showed signs of market stabilization through November of 2022. However, the impact of the economic upheaval caused by the pandemic appears to be behind us and trends point upward. Additionally, real estate market projections continue to paint a positive picture through the end of 2024 and beyond. Inventories of homes for sale are increasing, yet still limited, and demand is moderating in the short term. This appears to be a reaction to increasing interest rates. With signs that inflationation is a threat, the Fed has recently raised the prime rate significantly. Of course, mortgage rates have risen in reaction to the Fed’s actions. However, the economy has remained resilient and there are signs that inflation is moderating and a recession will likely be avoided.
Over the last few years, our city’s growth rate has been among the fastest in the United States. Since the local market forces supporting future growth are strengthening, we anticipate our economy will thrive in the intermediate to long term. The new World Equestrian Center has opened and will expand in stages over the next few years. As a result, visitors, investors and new residents will be drawn to our metropolitan area. Because of this, we project continued aggressive growth in housing demand over the next decade and farther into the future.
Home Sales Stats Report For The Region Served By Stellar MLS
Note: Stellar MLS serves many Realtor associations in Florida, including OMCAR, the association representing Marion County Realtors. We offer their infographic here because the shortage of homes listed for sale is still with us locally, regionally and nationally. Nationally, there is a 2.5 month supply of homes for sale currently, well below a balanced market level of 5 to 6 months. Therefore, we believe that reporting information on a broader scale than Ocala home sales stats paints a truer picture of real estate market conditions.
For additional information about Ocala neighborhoods, we recommend Neighborhood Scout. It offers demographics, pricing data, crime statistics, school ratings and other valuable information. However, note that some stats are only available by subscription to Neighborhood Scout’s premium plan. Of course, there is value in subscribing if you are considering making a major investment in our community. However, you can also ask us. We will gladly get answers for you. Contact us here!