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Unemployment Rates
A healthy economy has a 3-5% unemployment rate, however a 3-5% unemployment rate does not always indicate a healthy economy.
National Unemployment Rate
2021 2022
Adams Insight: The #FED is continuing to increase interest rates. The goal is to slow inflation which is causing many problems. Housing is one market that has been destroyed by the high home prices with cheap money (30 year loans). For example, in my neighborhood the home values have greatly increased every year. A healthy market increases by 4%+/-. In 2019 my neighborhood increased by 19%, in 2020 the homes increased by 22%, 2021 values increased by 27%, 2022 values increased by 25%. This means that home values almost tripled in 4 years. This causes me to worry about what the correction is going to look like in the future.
Florida Unemployment Rate
2021 2022
February 5.6% 3.3%
December 3.5%
Adams Insight: The low employment will hopefully earn every worker a high income. The competition increases prices and demand. I know that plumbers have quadrupled their rates. We just paid for a new sewage line, 3 years ago it would have cost $7,000, today it costs $16,000 and that didn't include cleanup.
Brevard County Property Sales Statistics
Brevard County Properties Sold
2021 2022
January 989 988
February 1,179 1,093
March 1,553 1,359
April 1,515 1,309
May 1,349 1,289
June 1,522 1,355
July 1,332 1,062
August 1,397 1,200
September 1,257 1,075
October 1,354 1,063
November 1,232 807
December 1,332
Adams Insight: Not to sound like a broker record, but we have another sad broken record. In the last 2 years we have not seen less than 987 home sales. This November we hit a low of 800. A 34% decrease should tell you that the mainstream media will start changing their tune sooner or later. The market is changing, hopefully stablizing.
Brevard County New Listings
2021 2022
January 1,396 1,294
February 1,420 1,313
March 1,536 1,607
April 1,582 1,561
May 1,469 1,700
June 1,602 1,744
July 1,669 1,696
August 1,538 1,528
September 1,398 1,172
October 1,413 1,311
November 1,262 1,032
December 1,063
Brevard County Active Listings
2021 2022
January 2,018 1,174
February 1,702 1,081
March 1,479 1,110
April 1,515 1,146
May 1,367 1,441
June 1,420 1,686
July 1,593 2,152
August 1,665 2,514
September 1,727 2,509
October 1,615 2,641
November 1,521 2,723
December 1,347
Brevard County Absorption Rate
2021 2022
January 1.68 0.88
February 1.40 0.81
March 1.20 0.83
April 1.06 0.87
May 1.06 1.11
June 1.07 1.3
July 1.18 1.68
August 1.25 2.0
September 1.29 2.2
October 1.21 2.15
November 1.14 2.26
December 1.01
Brevard County Average Sales Price
2021 2022
January $298,597 $354,264
February $291,443 $373,913
March $315,019 $388,414
April $346,745 $419,303
May $331,249 $418,863
June $348,784 $419,316
July $358,399 $415,560
August $363,348 $426,527
September $367,150 $398,460
October $357,873 $392,498
November $355,011 $383,069
December $368,250
Brevard County Median Days on Market
2021 2022
January 15 7
February 15 5
March 12 4
April 9 4
May 5 4
June 7 5
July 7 7
August 7 10
September 7 13
October 6 15
November 6 20
December 7
Brevard County Short Sales / Bank Owned / Auctions
2021 2022
January 10 10
February 13 4
March 10 7
April 16 4
May 8 6
June 20 6
July 14 4
August 17 5
September 9 3
October 7 7
November 13 5
December 11
Written by Adam Maxfield
Real Estate Sales and Investing
Keller Williams Realty of Brevard
(321) 423-8283
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