“What’s going on in the real estate market?” April 2019

Posted by Maryann Mize, CCIM | Senior Vice President and Senior Credit Officer on Apr 24, 2019 10:44:40 AM
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Here is a look at three indicators of the real estate market:

Banking Industry: The banking industry is heavily regulated, and banks must provide the FDIC an updated Balance Sheet and Profit and Loss statement on a quarterly basis.  This results in a robust set of data indicating the direction (good or bad) of important indicators.  A review of the past 35 years of troubled loans indicates a positive trend – down!

Foreclosure or Lis Pendens filings: Thanks to the transparency of Charlotte County Clerk of the Court Roger Eaton, we are provided the number of new foreclosure filings each month, and a review of this month’s update reveals a continued trend – a very low number of new filings.

Number of Single Family and Condo sales: I think you’d agree that our area is very seasonal, and as a result, it’s difficult to analyze trends on a monthly basis.  Therefore, I use an old technique I recall from Economics 101 – show the data on a trailing 12 month basis vs. monthly.  Using this technique, a very clear picture emerges: We have had very strong sales in the recent past, and the data compares favorably to even the “hey days” of 2004 and 2005.

Therefore, whether using the FDIC data on troubled loans or local area real estate statistics, positive attributes and confidence in our area’s real estate market continues.

Maryann Mize, CCIM, Senior Vice President of Charlotte State Bank & Trust, can be contacted at mmize@csbtfl.com or 941-624-1916

Charlotte State Bank & Trust is an Equal Housing Lender. Loans subject to credit approval. NMLS # 477000

Posted by Maryann Mize, CCIM | Senior Vice President and Senior Credit Officer

Senior Vice President and Senior Credit Officer of Charlotte State Bank & Trust

Topics: Market Update, Real Estate