Just two years ago, buyers were competing with each other to buy real estate, sending prices through the roof.  Homes were selling fast and for top dollar.  Buyers were frustrated, but sellers were very happy.  It was a strong seller's market.

But then everything changed.  Buyers stopped buying, so the home inventory went through the roof.  And ultimately this caused prices come down.   Now, sellers were competing with each other to sell their real estate.  It was a strong buyers market. 

Today's real estate market:   Inventory levels are the lowest they have been since February of 2006. Buyers still have an abundant selection of very affordably priced homes.  And interest rates are on par with rates in the 1960's. It's still a buyer's market, but it looks as though the market is at the beginning stages of stabilizing- and that's good news for everyone.

What does the future hold?  Keep in mind that real estate markets are cyclical.  Great seller markets turn into great buyer markets, and sooner or later they turn back into great seller markets again. Of course no one knows when prices will start climbing upward -  but there are some indications that it has already started. Declining inventory shows a healthy interest in our local real estate.  In fact, Sarasota has been one of the strongest markets in Florida over the last two years.  The reason? Sarasota is a prime relocation for families and businesses because the area is rich culturally, geographically and environmentally.

Why buy now?  There will probably be no better time to invest in a home here. The time is not too far off when people will be saying "I should have bought when prices were so low".  Will you be one of them? Take advantage of this opportunity before it ceases to be one.

Need more information?  Here are some interesting stats about FLorida:

• An analysis of demographic data indicates Florida enjoyed a net population growth of 350,000 each year from 2000 to 2006.  That includes about 203,000 people who moved to Florida from other states, about 107,000 migrants from foreign countries and about 47,000 from natural increase (total births minus total deaths) said economist Hank Fishkind, president of Fishkind & Associates in Orlando.
• Florida has been one of the top ten fastest growing states for seven decades in a row, exceeding the U.S. average by 100 percent since 1970.
• In fact, the U.S. Census Bureau projects that in 2010 Florida will surpass New York and become the nation's third most populous state. By 2030, the Census Bureau projects the state’s population will reach 28.6 million, an increase of 12.7 million since 2000.
• Florida's favorable climate, beautiful beaches, outstanding recreational amenities . . .  and no state income tax will continue to attract people to this state.  Florida is one of the most popular places to live, and that makes it a great place to invest.