Unemployment Rates
The unemployment rate is a great market indicator for the future market. As long as employment numbers are strong, mortgages will be paid and manufactured items will be purchased.
National Unemployment Rate
2023 2024
Adam's Insight: May is the first time the unemployment rate has broker 4% in 3 years. The rate has been hovering around 3.4-3.9%. We are starting to see home inventories growing and unemployment increase. The market is starting to change, but what will this mean? Hopefully competition will decrease project pricing and increase construction again and increase affordability.
Florida Unemployment Rate
2023 2024
June 2.6%
July 2.7%
August 2.7%
September 2.8%
October 2.8%
November 2.9%
December 3.0%
Adam's Insight: Florida has not documented May unemployment rates.
30 Year Mortgage Rate Average in United States
*This information is pulled from the Federal Reserve and Freddie Mac. These are averages for information purposes only. This information is for the first day of the month; remember that a lot can change in 30 days.
2023 2024
July 6.81%
August 6.9%
September 7.18%
October 7.31%
November 7.76%
December 7.03%
Adam's Insight: The inflation rate has not slowed to the #FEDs goal of 2.0% or less. As long as the government prints more currency, the inflation rate will continue to increase. The government is stuck in a pickle, if inflation is low and the economy is strong higher interest rates are better for businesses and the economy as a whole. If inflation is high then the interest rate must stay high to reduce the rate of inflation.
Spot Gold Price (Price per Ounce)
2023 2024
January $1,829 $2,063
February $1,953 $2,054
March $1,836 $2,082
April $1,984 $2,249
May $1,981 $2,320
June $1,948 $2,350
July $1,919
August $1,952
September $1,940
October $1,825
November $1,985
December $2,072
Spot Silver Price
2023 2024
January $24.10 $23.82
February $24.05 $23.15
March $20.98 $23.13
April $24.10 $25.09
May $24.96 $26.64
June $23.88 $30.74
July $22.77
August $24.40
September $24.18
October $20.89
November $23.05
December $25.47
Brevard County Property Sales Statistics
Brevard County Properties Sold
2023 2024
January 738 686
February 967 893
March 1,262 1,109
April 1,167 1,147
May 1,230 1,246
June 1,188
July 986
August 1,108
September 1,007
October 914
November 908
December 814
Adam's Insight: Homes are selling but it takes a little more work. The days are over of a quick flip and making a big profit. In the last month I have received 5 calls from homeowners that are struggling to pay their mortgage to discuss options. It is just the beginning but we will see prices fall due to the cost of living and debt to income ratios.
Brevard County New Listings
2023 2024
January 1,362 1,578
February 1,210 1,559
March 1,535 1,804
April 1,355 1,781
May 1,489 1,734
June 1,309
July 1,353
August 1,476
September 1,397
October 1,389
November 1,226
December 1,026
Brevard County Active Listings
2023 2024
January 2,672 3,553
February 2,538 3,862
March 2,354 4,037
April 2,332 4,295
May 2,317 4,417
June 2,367
July 2,469
August 2,537
September 2,826
October 3,055
November 3,285
December 3,248
Brevard County Absorption Rate
2023 2024
January 2.35 3.42
February 2.27 3.73
March 2.13 3.92
April 2.13 4.22
May 2.14 4.34
June 2.19
July 2.31
August 2.39
September 2.67
October 2.9
November 3.15
December 3.09
Brevard County Average Sales Price
2023 2024
January $394,815 $414,497
February $394,504 $413,611
March $394,311 $391,721
April $425,760 $457,901
May $420,068 $437,357
June $416,083
July $418,235
August $435,410
September $408,702
October $409,171
November $426,062
December $400,425
Brevard County Average Days on Market
2023 2024
January 26 58
February 31 59
March 22 82
April 68 76
May 18 84
June 14
July 15
August 18
September 19
October 22
November 23
December 29
Written by Adam Maxfield
Real Estate Sales and Investing
Keller Williams Realty of Brevard
(321) 635-0060
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