Local housing experts say more people are buying homes in our area

Published: Aug. 27, 2020 at 4:22 AM CDT
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BAY COUNTY, Fla. (WJHG/WECP) -

According to the Central Panhandle Association of Realtors; more people are buying homes in our area.

“Last two or three months have been so strong sales-wise, we are looking for more inventory and need it. There are many new homes coming to the market as well,” said Central Panhandle Association of Realtors President Brian Hinton.

Members say there more than 640 listings were sold in June and July. The largest amount sold in that timeframe in our area in three years.

“Once the pandemic levels off, people will realize that they still needed to buy houses, there was a significant spike in the number of listings sold and we continue to ride that wave,” said Central Panhandle Association of Realtors CEO Debbie Ashbrook.

They started this year with more than 2,100 available listings on the market, which is significantly more than they have seen over the past two years.

“We might not be back to where we were as far as available places to live but we’re doing an amazing job of re-capturing inventory for those looking for homes,” said Hinton.

Panama City officials say the spike in home buying is due to the number of resources available for locals in our area, including ReHouse Bay.

“The assistance or the resources weren’t there before to help someone purchase a home,” said Panama City Community Development and Redevelopment Director Michael Johnson. “Of course down payment and closing costs are required. The fact they were offering that to many other citizens as well as in the purchase for quite some time they’ve been renting before.”

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