A report that was just emailed to me from NAR (National Association of Realtors) indicates that the Tampa Real Estate Market showed a 7% decline year over year. Not really a surprise to me since I have been following inventory in the Tampa Bay Real Estate Market for some time.
This report took into account condos, townhomes and single family homes. The reason for this decline in my opinion, is due to low interest rates, clients with cash, and reasonable home pricing. If this trend continues on this path, the market will begin to turn to a neutral market within 5-6 months (my opinion).
In either event, the decline of homes available for sale is an excellent indicator of things to come...stay tuned!
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