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No More Buyers, No More Sellers Of Tampa Homes
December 15th, 2006 categories: Tampa Florida, Tampa Florida Real Estate, Tampa Market Reports, Tampa Real Estate, Tampa Realtor
As we approach the end of the 2006 and with the holiday season upon us, the supply and demand of residential real estate in Tampa remains flat. The number of active listings as well as the number of pending listings has not changed much since mid-October when these numbers began to flatten out.
New listings, of course, had been on the rise steadily through the first 3 quarters of the year, while the number of listings with buyers under contract has fallen steadily since mid-April. As far as supply and demand goes, conditions are pretty stable.
That noted, inventory is still very high at 7543 active units, while only 1679 sellers have a buyer under contract. Listings that expired since November 1st number 657 while another 1231 listings were withdrawn during the same period.
But with interest rates low and supply plentiful, 539 buyers have decided to enter into a purchase agreement since mid-November, some of them getting big discounts.
Data used is from the Mid-Florida Regional MLS for properties in Tampa.
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3 Responses to “No More Buyers, No More Sellers Of Tampa Homes”
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Let’s hope for continuing decrease in interest rates that will allow homeowners to get the prices they want for their homes.
Interest rates may help a bit, but the larger issues are the property taxes and homeowners insurance. Until these two issues are fixed or altered, then potential buyers will continue to sit on their hands. it’s really a shame that the state goverment did not have enough foresight about these pressing issues. I personally see the prices of homes and condo’s going down significantly, in the next year. Possibly to prices that were seen in the 2003 levels
Good point Gerald. The T and I (taxes, insurance) portion of the monthly payment has skyrocketed leaving less room for the P and I (principal and interest. Something’s gotta give. Rates are low and a further decrease in rates won’t make a big difference in this market.
Tampa Lender: Talk to us about a rate buydown.
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