FINALLY!
“The pace of decline in residential real estate slowed in April,” says David Blitzer, Chairman of the Index Committee at Standard & Poor’s. “Thirteen of the 20 metro areas also saw improvement in their annual return compared to that of March. While one month’s data cannot determine if a turnaround has begun, it seems that some stabilization may be appearing in some of the regions,”
These are some factors that may be lifting the housing markets. For one thing, the stock market bottomed out in March and started a strong recovery. The S&P 500 has gained about 37% since then. Consumer confidence has also improved, making house hunters more likely to pull the trigger on deals.
The probability that Mortgage Rates will NOT remain this low is also a great incentive for buyers to move today. It doesn’t take a considerable increase in interest rates to move the monthly payment to an uncomfortable amount and in some cases out of reach.
Florida and especially Tampa Bay have been feeling the affects of this market stabililization since the first of the year. With home prices beginning to level off and historic low interest rates, we are seeing more home sales every day.
Team Sumberg is here to assist you in buying or selling your Tampa Bay home. Contact us : info@TeamSumberg.com (866) 323-3981
