Tampa Bay Home Prices Now At A Two Year High
According to the latest Standard & Poor's Case-Shiller home price index report, single family home prices in the Tampa Bay area have jumped to a two-year high. The report was released on Wednesday.
Home prices increased nearly 6 percent for October, 2012 as compared to the same month last year. Prices moved up about 4 percent in 20 of the nation's largest markets which are used in the report.
Information released recently by the National Association of Realtors (NAR) showed that nationally, sales of previously occupied homes jumped to their highest level in three years during November.
Increased demand from home buyers and investors, along with fewer homes on the market are helping to increase property sales and improve prices, according to the report. Also helping spur sales are improving employment rates and low mortgage rates nationwide.
This information would seem to indicate that if you are a home buyer, the time to act is now before prices get higher. If you are a seller, the data seems to indicate that this may be the time to consider listing your home for sale in this improving market.
An important note: home prices in Tampa Bay are still just over half of what they were in May 2006 at the market's peak, but are still higher than they were ten years ago.
Home prices increased nearly 6 percent for October, 2012 as compared to the same month last year. Prices moved up about 4 percent in 20 of the nation's largest markets which are used in the report.
Information released recently by the National Association of Realtors (NAR) showed that nationally, sales of previously occupied homes jumped to their highest level in three years during November.
Increased demand from home buyers and investors, along with fewer homes on the market are helping to increase property sales and improve prices, according to the report. Also helping spur sales are improving employment rates and low mortgage rates nationwide.
This information would seem to indicate that if you are a home buyer, the time to act is now before prices get higher. If you are a seller, the data seems to indicate that this may be the time to consider listing your home for sale in this improving market.
An important note: home prices in Tampa Bay are still just over half of what they were in May 2006 at the market's peak, but are still higher than they were ten years ago.
-30-
posted by Terry Ward at 5:51 AM
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