Tampa area home sales highest in more than 2 years
The 1,714 home sales recorded by the Greater Tampa Association of Realtors in June is the highest monthly total since December 2006.
June's total is also a 23 percent improvement over the 1,394 homes that sold in June 2008. The average sales price in June was the highest in 6 months.
All this is moderately good news and bespeaks a housing market struggling to trudge forward against recessionary headwinds.
If there's cause for concern it's the volume of foreclosure and pre-foreclosure sales in the Tampa Bay area. Estimates place them as high as half of all sales. Sale of non-distressed homes are still stumbling.
Here's a chart: Download Junegtar09
(Un)Real Estate offers a peek at the housing market usually reserved for insiders. While it focuses on the Tampa Bay area, it won't neglect dipping
into the rest of Florida and beyond. Its goal? Simple: To help you keep a roof over your head without losing your shirt.
Well, it's good to know that the realtors are now including foreclosure and pre-foreclosure sales in their totals to tell their story.
Historically, these were not included if the seller didn't pay them their 6% or 7% vig.
Who knows? Maybe they will really get progressive and include those vacant foreclosed and pre-foreclosure homes that are not paying the vig as part of total inventory. Naaahhhhh....
Posted by: Tino | July 16, 2009 at 11:54 AM
"Who knows? Maybe they will really get progressive and include those vacant foreclosed and pre-foreclosure homes that are not paying the vig as part of total inventory. Naaahhhhh...."
Numbers always look good when these properties and others are left out of the equation. If inventory is not listed in MLS with the 6 or 7% vig. it is not considered inventory by some realtors.
Posted by: Fuzzy Bear | July 16, 2009 at 01:52 PM
Has anyone seen my ghost inventory? Those darn things are so good at hiding.
Posted by: fuzzy bore | July 17, 2009 at 07:42 AM