Tampa Bay Real Estate Market Forecast - Home Sales Expected to Increase
Over the past few weeks many news sources have released predictions for strong real estate stabilization in 2010. A recent article from NuWire credited the expansion and extension of the first time home buyer tax credit for the predicted stabilization and home sales increase. According to NuWire recent article, “ Home Sales to Increase in 2010 ”: "After more than a three year downturn in the hardest hit areas of the nation, some markets have experienced slight rebounds, prompted by the first time buyers' tax incentive and low mortgage rates. But higher price ranges have been hindered in their recovery. However, momentum should gain strength in the second half of the year with expected improvements in mortgage lending and make strides towards stabilizing in 2010. A series of interest rate cuts taking mortgage rates to near historic lows are one of the Fed's attempts to re-stimulate the housing market. But record foreclosures are producing a market that threatens to keep ho...