As awakening buyers & scant supplies continues to drive up both sales & prices. More than 3,400 homes sold here alone in last month showed a 20% jump over May 2012 & the busiest month since the boom times of 2005. With a typical home sale, homes came under contract in 29 days & were sold within 82 days. That's a sign that brutally tight supplies of homes for sale which are speeding along deals. Greater Tampa Association of Realtors data show that in Hillsborough County alone, the number of homes for sale dropped from 10,300 in May 2012 to 6,700 last month.
Sales for new homes rose in May to the fastest pace in five years, pointing to signs of a steadily increasing and improving real estate market. Sales for homes have increased by 2.1% in May compared to April and the new homes sales rate was at the highest level since July 2008. I think the market is making a strong comeback!
But the problem I'm seeing is that my clients are getting out bid by cash investors left and right! Unfortunately the families that want to get into their 1st home or into a bigger home are the ones getting the short end of the stick. Unless my clients are buying a brand new home they are continuing to search for a home and make offers with no end in sight.
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