Despite the concerns about strained relations with China, increased COVID infections, social protests, weaker earnings, high U.S. unemployment and the November election, the S&P 500 Index is up 1% for the year while the Nasdaq Index is up 19.7%. The increasing spread of the virus is suppressing a healthy economic recovery as consumers and businesses remain conservative in their spending.
Here’s a quick overview of important real estate highlights in our area:
1. Number of Single Family Homes and Condos sold: Our local Realtor association (Realtors of Punta Gorda-Port Charlotte-North Port- DeSoto. Inc.) reports that there were 284 sales in the month of May, in our COVID-19 environment.
The arrival of hurricane season in the midst of the COVID-19 pandemic requires us all to be doubly vigilant. You’ll be hearing a lot about hurricane preparedness when it comes to protecting yourself and your loved ones in terms of shelter, safety and supplies. Researchers are predicting 19 named storms this year, and FEMA (Federal Emergency Management Agency) has posted some important operational guidelines on its website (fema.gov).