Tampa Housing Market Report: More Signs of Trouble
Single-family home sales off by a third. Condo sales off by half. More downbeat news from the Tampa Bay housing market.
The messenger is the Florida Association of Realtors, which measured home sales in the first quarter of 2007 against sales a year earlier.
As with Florida mortgage activity in the area, home prices also slipped, but less drastically than did home sales.
The average single-family home in the area sold for $212,200, down $5,000 from a year earlier, when the market was just starting to taper off.
That amount ($212,000) still represents an affordable Florida home mortgage sum for an aspiring buyer compared to what’s out there in much of the Sunshine State.
Condos go for $171,900 this year, down from $177,800 last year.
A glut of inventory the market - 40,000 homes and counting - could suppress home prices further. Home sales thus far suffer from mixed signals:
- The good news of insurance and property tax reform
- Rising foreclosure and mortgage defaults across the state
- Slower job growth and Florida mortgage lender cutbacks
SOURCE: St. Petersburg Times
June 13th, 2007 at 4:15 pm
What is available to help single-parent Hillsborough County School employees, that are over the income limitations for most Hillsborough Cty down-payment assistant programs. It very discouraging to look for your American Dream and to be told countless of times that you are over the limit for assistance but you cann’t afford anything better than lower-income. There are not enough incentitives for the working middle-class. Our hispanic population seems to be able to get more assistance and help achieving the American Dream quicker using various programs.