Homes for sale in October in Sarasota-Manatee hit 2023 high

A file photo of a home for sale on Maximo Road in North Port, Florida in April 2022 The Realtor Association of Sarasota Manatee released last week its monthly housing market report that tracks both Sarasota and Manatee counties housing statistics.

Sarasota-Manatee had more homes on the market in October than at any other time this year, and in some neighborhoods more than at any time since early 2020, according to statistics maintained by the Realtor Association of Sarasota and Manatee.

A slowing national real estate market has been attributed to the Federal Reserve’s fight against inflation. The Fed has repeatedly raised interest rates, which increases the cost to borrow money, weakening demand in the housing market as fewer people take on mortgages. Mortgage rates also hit the highest levels seen in more than 20 years this fall.

Despite the slowing national market, local real estate agents in Sarasota said the rising inventory of homes for sale is actually creating a healthier market than what occurred over the past few years.



This article was originally published by a www.heraldtribune.com . Read the Original article here. .