Daytona Beach Real Estate Sales Drop 15.9% in September

After five months of stronger home sales in the Daytona Beach, September sales dropped significantly to 233 homes sold from 277 in August.

Why Daytona Beach Home Sales Dropped

There are no certain explanations for the sales drop of Daytona Beach homes, but we expect very tight mortgage credit and economic fear as the primary sources. There is little good news, and borrowers with top credit and 20% down money are about the only buyers able to get financing. Lenders are looking for as close to zero risk as they can get.

What About the Bailout Bill?

The bailout, or rescue bill, was signed into law this afternoon. I don’t know the affect and neither does anyone else. My hope is that it kick starts the economy and breaks the credit logjam. We will see over the next few months.

Want More?

We’ve moved our Monthly Daytona Beach Real Estate Report to www.lynnbyrne.com to place all the reports in the same location.  You can see our:

Weekly Daytona Beach Real Estate Report

Daytona Beach Real Estate Trends and Analysis

The Upside for Daytona Beach Florida Real Estate

People with the financial resources to buy now can realized tremendous discounts to market values through short sale purchases. Banks are dealing and accepting offers we didn’t think possible even a few months ago. I’ve heaviliy involved in the short sale market and can answer any questions you might have when you call me at 386-566-7503.

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