The Greater Tampa real estate market saw a minor reversal in the relative supply of homes for the month of June 2011. Relative supply is measured in terms of months of supply when measured against the current rate of demand.
The following real estate supply and demand graph shows that the Tampa MLS currently has just under 8 months of supply, which is still a buyer’s market. Most real estate professionals identify a balanced market (a market at equilibrium) when the relative supply of homes for sale falls between 5 and 6 months.
Tampa Real Estate Supply And Demand July 2011
In the real estate graph above, the one-year trend of home sales is shown in green, the current supply of homes for sale is shown in red, and the resulting relative supply is shown in purple and measured on the right vertical axis. In June, home sales dipped slightly, while supply rose, thus resulting in the increase of the relative supply of homes. Hopefully, the more recent trend of falling supply will continue and move the market to equilibrium. Stay tuned for future reports on the Tampa real estate market.
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