Some Good Real Estate News To Start The Year
Let's start 2012 with some good news about real estate!
In case you missed them, the newly re-named Tampa Bay Times has run two stories on back-to-back days that give everybody concerned with real estate a reason to smile.
On January 5th, there was a story about how growth is returning to Florida. The data was obtained from Atlas Van Lines. For the first time in five years, Atlas Van Lines has reported that inbound moves outnumbered outbound moves in Florida. In 2011, there were 5,636 inbound smoves and only 5,269 people moving out of the state. This may be a sign that the Florida economy is moving forward since more people from other states are moving here. That's good news for real estate since those new residents will need places to live.
The second piece of good news is that the vacancy rate for commercial/office buildings dropped 19% during 2011. Typically, when vacancy rates decline it means businesses are hiring more people. More jobs mean people have more money and have a better chance to qualify for home mortgages. This should be good news to home sellers throughout the Tampa Bay area.
These are both great trends. Let's hope they continue.
-30-
In case you missed them, the newly re-named Tampa Bay Times has run two stories on back-to-back days that give everybody concerned with real estate a reason to smile.
On January 5th, there was a story about how growth is returning to Florida. The data was obtained from Atlas Van Lines. For the first time in five years, Atlas Van Lines has reported that inbound moves outnumbered outbound moves in Florida. In 2011, there were 5,636 inbound smoves and only 5,269 people moving out of the state. This may be a sign that the Florida economy is moving forward since more people from other states are moving here. That's good news for real estate since those new residents will need places to live.
The second piece of good news is that the vacancy rate for commercial/office buildings dropped 19% during 2011. Typically, when vacancy rates decline it means businesses are hiring more people. More jobs mean people have more money and have a better chance to qualify for home mortgages. This should be good news to home sellers throughout the Tampa Bay area.
These are both great trends. Let's hope they continue.
-30-
posted by Terry Ward at 7:59 AM
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