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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
2022 2023
Adam's Insight: The unemployment numbers are slowly inching their way up. The interest rate increases are starting to work, inflation is slowing but we still have a long ways to go. Gas has leveled and so have a few produce items, however real estate prices are still very high when comparing to 2019. Real estate prices will change if interest rates stay above 6%.
Florida Unemployment Rate
2022 2023
October 2.7%
November 2.7%
December 2.5%
Adam's Insight: Florida has a low unemployment rate. I believe it is due to our population increase. We are seeing many retirees move to Florida, they spend money but do not work.
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
January 6.48%
February 6.09%
March 6.65%
April 6.32%
May 6.39%
June 6.79%
July 6.81%
August 6.9%
September 7.18%
October 7.31%
November 7.76%
December %
Adam's Insight: The media has told us it will come down, however each month is is higher than the month before. My crystal ball doesn't see anything lower than 6% for a long time and inflation is still above 4% so I think it is going to stay above 7.5% until inflation is below 3%. 2024 is an election year so the economy will be a toss up.
Spot Gold Price (Price per Ounce)
2023
January $1,829
February $1,953
March $1,836
April $1,984
May $1,981
June $1,948
July $1,919
August $1,952
September $1,940
October $1,825
November $1,985
December
Spot Silver Price
2023
January $24.10
February $24.05
March $20.98
April $24.10
May $24.96
June $23.88
July $22.77
August $24.40
September $24.18
October $20.89
November $23.05
December
Brevard County Property Sales Statistics
Brevard County Properties Sold
2022 2023
January 988 738
February 1,093 967
March 1,359 1,188
April 1,309 1,148
May 1,289 1,230
June 1,355 1,188
July 1,062 986
August 1,200 1,108
September 1,075 1,007
October 1,063 914
November 807
December 990
Adam's Insight: 14% fewer homes sold compared to 2022. The majority of the homes were in the $300,000 0 $400,000 price bracket. This is also the average home price in Brevard County. $500,000+ home sales increased.
Brevard County New Listings
2022 2023
January 1,294 1,362
February 1,313 1,210
March 1,607 1,535
April 1,561 1,355
May 1,700 1,489
June 1,744 1,309
July 1,696 1,353
August 1,528 1,476
September 1,172 1,397
October 1,311 1,389
November 1,032
December 1,036
Brevard County Active Listings
2022 2023
January 1,174 2,672
February 1,081 2,538
March 1,110 2,354
April 1,146 2,332
May 1,441 2,317
June 1,686 2,367
July 2,152 2,469
August 2,514 2,537
September 2,509 2,826
October 2,641 3,055
November 2,723
December 2,695
Brevard County Absorption Rate
2022 2023
January 0.88 2.35
February 0.81 2.27
March 0.83 2.13
April 0.87 2.13
May 1.11 2.14
June 1.3 2.19
July 1.68 2.31
August 2.0 2.39
September 2.2 2.67
October 2.15 2.9
November 2.26
December 2.31
Brevard County Average Sales Price
2022 2023
January $354,264 $394,815
February $373,913 $394,504
March $388,414 $394,311
April $419,303 $425,760
May $418,863 $420,068
June $419,316 $416,083
July $415,560 $418,235
August $426,527 $435,410
September $398,460 $408,702
October $392,498 $409,171
November $383,069
December $392,362
Brevard County Median Days on Market
2022 2023
January 7 26
February 5 31
March 4 22
April 4 18
May 4 18
June 5 14
July 7 15
August 10 18
September 13 19
October 15 22
November 20
December 24
Brevard County Short Sales / Bank Owned / Auctions
2022 2023
January 10 6
February 4 16
March 7 12
April 4 9
May 6 6
June 6 7
July 4 4
August 5 4
September 3 7
October 7 6
November 5
December 4
Written by Adam Maxfield
Real Estate Sales and Investing
Keller Williams Realty of Brevard
(321) 635-0060
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