Is Ocala headed for a sellers market ?
When the real estate market crashed in 2007 Ocala was hard hit. Resales went so low new home builders couldn’t compete. No one has started a major new community in almost 10 years. Subdivisions that already existed continued to build sporadically during those years but there were no new major investments. Only in the last year have we seen new investment. Shea homes started a Trilogy community. DR Horton is building in the area including JB Ranch. On Top of the World is building in new areas of Candler Hills and Indigo East. But those are established or revived subdivisions that already existed in some form.
In other parts of the country you buy a home in a town because you got a job there, you grew up there or you have relatives there. Here in Ocala people come here to escape the winters, retire on a budget or to escape the taxes and home owner insurance of southern Florida or some other state. Ocala needs it’s home inventory to constantly increase to keep up with newcomers. To some extent the flow of newcomers slowed when they couldn’t sell an existing home but it never stopped. People retire when it’s time to retire. Based on this I feel Ocala will have a housing shortage and a sellers market in the near future.
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