{"href":"http://player.captivate.fm/services/oembed?url=http%3A%2F%2Fplayer.captivate.fm%2Fepisode%2F225b284a-cd2e-40b9-b609-b8cfbe6691a1","version":"1.0","provider_name":"Captivate.FM","provider_url":"https://www.captivate.fm","width":600,"height":200,"type":"rich","html":"<iframe style=\"width: 100%; height: 200px;\" title=\"E016: 2020 Market Outlook and New Loan Limits for FHA, Conventional and VA Loans\" frameborder=\"0\" scrolling=\"no\" allow=\"clipboard-write\" seamless src=\"http://player.captivate.fm/episode/225b284a-cd2e-40b9-b609-b8cfbe6691a1\"></iframe>","title":"E016: 2020 Market Outlook and New Loan Limits for FHA, Conventional and VA Loans","description":"<p>In this episode, Nicole Saunches discusses the 2020 Real Estate Market Outlook with Chris Musto from Guaranteed Rate. &nbsp;</p>\n<p>Many people are approaching this year anticipating a recession, however, times have changed and there are quite a few differences between the years that led up to 2008 and the real estate crash and today that may ease these concerns.</p>\n<ul>\n <li>At the end of 2019, the U.S. jobless claims were at a 50-year low. &nbsp;And, we're seeing the same in Florida. &nbsp;A recent article in the Tampa Bay Times reported that the state's unemployment rate dropped to a record-low 3% (the lowest since record-keeping began in 1976).</li>\n <li>Stricter lending standards reduct the likelihood of borrowers defaulting on their mortgages</li>\n  <li>Nationwide, it appears that homeowners are more cautious choosing to retain equity in their homes instead of borrowing against them</li>\n  <li>Subprime, portfolio and nonprime loans only made up a small percentage of loans (compared to ~20% in 2005)</li>\n  <li>State forecasters estimate that Florida is gaining 906 residents daily</li>\n</ul>\n<p>Below are the new loan limits for Pinellas County:</p>\n<ul>\n  <li>FHA - $331,760 for a single-family home; $424,800 for a duplex; $513,450 for a triplex and $638,100 for a quad</li>\n  <li>Conventional/Conforming - $510,400</li>\n</ul>\n<p>Below are the 12/2019 Pinellas County stats referenced:</p>\n<ul>\n  <li>Combined Closed Sales (single-family homes &amp; &nbsp;condos/townhomes): 12/2019 - 1,928 sales (up 11.3% over 12/2018); 12/2018 - 1,733 sales; 12/2017 - 1,891 sales; 12/2016 - 1,875 sales</li>\n  <li>Closed Sales for single-family homes: 12/2019 - 1,242 sales (up 19.5% over 12/2018; 12/2018 - 1,039 sales; 12/2017 - 1,137 sales; &nbsp;12/2016 - 1,188 sales</li>\n  <li>Closed Sales for condos/townhomes: &nbsp;12/2019 - 686 sales (down 1.2% from 12/2018); 12/2018 - 694 sales; 12/2017 - 754 sales; 12/2016 - 687 sales</li>\n</ul>\n<p><br></p>\n<ul>\n  <li>Combined &nbsp;New Listings - 12/2019 - 1,459 units (down 15.4% from 12/2018); 12/2018 - 1,724 units; 12/2017 - 1,581 units; 12/2016 - 1,675 units</li>\n  <li>New Listings (single-family homes) - &nbsp;12/2019 - 914 units; 12/2018 - 908 units; 12/2017 - 935 units; 12/2016 - 995 units</li>\n  <li>New Listings (condos/townhomes) - 12/2019 - 545 units; 12/2018 - 816 units; 12/2017 - 646 units; &nbsp;12/2016 - 680 units</li>\n</ul>\n<p><br></p>\n<ul>\n  <li>Inventory (combined active listings for single-family homes &amp; condo/townhomes): 12/2019 - 4.580 units (down 21.4% from 12/2018); &nbsp;12/2018 - 5,828 units; 12/2017 - 4,970 units; 12/2016 - 5,728 units</li>\n  <li>Single-Family Inventory: 12/2019 - 2,556 units (down 23.1% from 12/2018); &nbsp;12/2018 - 3,322 units; &nbsp;12/2017 - 2,890 units; 12/2016 - 3,288 units</li>\n  <li>Condo/Townhome Inventory: 12/2019 - 2,024 units (down 19.2% from 12/2018); 12/2018 - 2.506 units; 12/2017 - 2,080 units; 12/2016 - 2,440 units</li>\n</ul>\n<p><br></p>\n<ul>\n  <li>Median Price for single-family home: 12/2019 - $271,000 (up 8.4% over 12/2018); 12/2018 - $249,000; 12/2017 - $239,900; December 2016 - $222,250</li>\n  <li>Median Price for condos/townhomes: 12/2019 - $188,500 (up 1.9% over 12/2018); 12/2018 - $185,000, 12/2017 - $162,000; December 2016 - $142,000</li>\n</ul>\n<p><br></p>\n<ul>\n  <li>Average Sales price for single-family homes: 12/2019 - $356,003 (up 8.9% over 12/2018); 12/2018 - $326,789; 12/2017 - $303,016; 12/2016 - $276,945</li>\n  <li>Average Sales price for condo/townhomes: 12/2019 - $260,713 (down 14.3% from 12/2018); 12/2018 - $304,056; 12/2017 - $240,497; 12/2016 - $215,214</li>\n</ul>\n<p><br></p>\n<ul>\n  <li>Months supply of inventory for single-family homes: 12/2019 - 2.3 mos (down 23.3% from 12/2018); 12/2018 - 3 mos; 12/2017 - 2.5 mos; 12/16 - 2.8 mos</li>\n  <li>Months supply of inventory for condos/townhomes: 2.7 mos (down 18.2% from 12/2018); 12/2018 - 3.3 mos; 12/2017 - 2.7 mos; 2016 - 3.4 mos</li>\n</ul>\n<p><br></p>\n","thumbnail_width":300,"thumbnail_height":300,"thumbnail_url":"https://artwork.captivate.fm/ed348642-087b-4477-acc6-02ec4da9200b/1218795-1568395190205-80d3b644912bc.jpg"}