Home / Development / Low housing interest rates in Gainesville creates more sales

Low housing interest rates in Gainesville creates more sales

By

Arlina Phillips-Han, a retired Gainesville resident, had waited for a more opportune housing market to purchase a new home. She decided now was the time to buy.

“We keep up with what’s going on in the real estate market because we’re just curious,” said Phillips-Han.

The Wall Street Journal wrote housing prices are stabilizing, but mortgage rates are remaining low.

A number of components in the housing market have created “a slight up take in sales,” said Henry Rabell, a local realtor. Some of these factors include more homes on the market, pent-up demand by consumers, and the lowest interest rates since the 1960s. However, Rabell said he would not call this occurrence a housing boom, and he does not expect an explosion in home sales.

“It’s definitely always a painful situation when you see somebody losing money on a real estate transaction or any investment,” said Rabell.

Rabell believes the city’s growing economy should keep the Gainesville housing market stable.

Phillips-Han is excited about finally being able to choose where she really wants to live. “It’s a tremendous feeling,” she said.

Dana Edwards edited this story online

About Christina DeVarona

Christina is a reporter for WUFT News and can be contacted by calling 352-392-6397 or emailing news@wuft.org.

Check Also

Marion County Parks and Recreation plans to have the Ocklawaha home famous for a 1935 shootout between a crime family and the FBI moved before the end of October. (Photo courtesy Jim Couillard)

Known For 1935 Shootout, Marion County’s Ma Barker House Set For Move By Oct. 31

The property's recent sale didn’t include the house, so the Marion County Board of County Commissioners voted Sept. 7 for its move to Carney Island.