The trend of increasing supply of Tampa homes for sale continues as we enter the second half of January, 2007. After the inventory of homes for sale stabilized somewhat in October of 2006, the sellers are making a substantial push, widening the gap between homes under contract and homes looking for a buyer.
As we saw last week, the number of properties listed for sale in Tampa increased by about 200 units this week as well. While the number of homes going to pending status also increased, the difference between the two widened, representing an increase in supply over demand. Buyers continue to have the upper-hand with more choices and more anxious sellers, as well as continued low costs to finance home purchases.
Prices are going down, generally speaking. The median prices of homes sold should reflect this during the coming months. Stay tuned.
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You did a good job on this post. I would like to so something similar for our area.
Keep up the good work!
Dusty Irving
United Country Real Estate
Fort Worth, Texas