Ahoy, fellow Space Coasters! Over the past three months, our real estate market has been sailing steady, with no unexpected waves or squalls on the horizon.

Need some numbers to paint the picture? Here you go: In June, the average number of days on the market for single-family homes was just 20. Blink and you'll miss them!

Meanwhile, the inventory of single-family homes held firm at 2.2 months. To put that in perspective: if no more homes popped up for sale, we'd run dry in just over two months.

And what about those dollar signs? The median sale price for single-family homes dipped ever so slightly, by .7%, in June 2023 compared to June 2022.

Alright, enough with the stats. Let's break down what this all means.

Homes are flying off the market when priced right - much like how those hotcakes disappear from your plate on a Sunday morning! And with the current supply of homes for sale being as limited as a good parking spot during the holidays, prices are staying sturdy.

So, where to from here?

If I were a betting man, I'd wager we'll see more of this steady-as-she-goes trend over the next six months. That is unless we see interest rates take a dip. At the moment, the rates for 30-year fixed conventional mortgages are lounging around 7%. If they decide to take a plunge into the 5% pool, we'll likely see home prices rocketing up 🚀. Buyers who've been on the bench might just jump into the game as this would boost housing affordability. 

Will rates drop? That's the million-dollar question! To stay updated, check out the app "Mortgage News Daily."

But, I hear some of you say, "Dude, I'm still waiting for the market to crash!" I love your optimism, but in my humble opinion, that's as likely as a snow day here in Brevard. It would take a massive spike in unemployment to cause any significant downslide in prices. And, honestly, our local economy is too hale and hearty for that.

Of course, that's just me - and I've been wrong before (just ask my wife). Always trust your gut and don't let fear steer your decisions. Make the choices that feel right for you and your family so that you can truly #LoveWhereYouLive.