Tampa Bay Area Home Sales Are Up 17%

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There was great news for the Tampa Bay Area in regards to home sales last month. 2,839 homes were sold in the entire Tampa Bay Area with a median price of $135,000. These statistics illustrate a 17% increase in home sales for the same period last year, when 2,044 homes were sold. The median home price of $135,000 is a 25% decrease from $185,000 just one year ago.

According to the President of the Greater Tampa Association of Realtors, Jack Rodriguez, “These statistics are extremely positive. Hopefully it signals a trend to better things ahead, both for real estate and the economy in general.”

Forecasters at Moody’s www.Economy.com predict that home prices will bottom out at the end of this year nationwide. This prediction is largely based on the assumption that President Obama’s recovery efforts, which includes a 2009 tax credit of $8,000 to home buyers who have not purchased a home within the last three years, will have a huge effect.

If you have any questions about the 2009 tax credit or would like to see some available homes for purchase in the Tampa Bay area, please contact our Real Estate Broker, Nibal Elsaadi in our Tampa office at 813.631.5144 or to schedule an appointment, please email Nibal@SIRealEstateInvestments.com.

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