SI Real Estate Tampa and The Beaches

After a double digit increase in home prices and sales occurred in 2013, this positive trend in the real estate market will continue throughout 2014 as well. As greater Tampa Real Estate professionals, SI Real Estate team is confident that the recovery of the housing market, job growth, and lower unemployment rate will continue to make housing more affordable. Here in the greater Tampa Bay area, there will be more homes available than there have been in several years. Homebuilders have regained enormous trust in the housing market and have started building more new homes than we have seen in many years!   They cannot build homes fast enough. This will help to increase real estate inventory and satisfy the high customer demand for both new and resale properties. In addition, according to Lawrence Yun, chief economist as the National Association of Realtors , “2013 has marked the second straight year of a very respectable recovery with a 20% cumulative increase in exi...

An interesting thing is happening in the Tampa Bay real estate market. Have you tried to put a contract out on a house that is unbelievably priced only to find that there are already several offers on the table? If so, you are not alone. Housing inventory is drying up. The drastic dip in supply is due to several factors. With fewer foreclosures, bargain basement prices on homes for sale, and incredible tax incentives being offered, investors and first-time home buyers are gobbling up Tampa housing inventory. Current demand has definitely reduced available housing supply. The National Association of Home Builders article Slow Recovery May Be Leading to Serious Housing Shortages addresses this saying “NAHB economists project that the industry will need to deliver 16 million homes over the next 10 years to keep pace with the demand. As the excess inventory is worked off, which is likely by the end of 2012, the long-run demand for new housing – based on population growth, immigration an...