Is there hope for our local market for single family homes? I think so! The good news is that the number of single family homes “For Sale” continues to decline. Also, if you compare the second quarter 2011 statistics vs. second quarter 2010 statistics, there is an increase in all Single Family Homes “pending” (this is sales pending) of over 26%.
Banks are lending money and the rates are incredibly low. For example, 2455 homes sold in June/2011 versus May/2011 where 2433 sold in our Hillsborough, Pinellas, Pasco markets. Some of the buyers are investors and some are foreclosures, but the fact is they are absorbing some of our inventory. This is good. My opinion is that this is a great time to invest in your home!