daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine

Go Back   SkyscraperCity > Continental Forums > North American Skyscrapers Forum > Metropolis & States > Tampa Bay Area

Tampa Bay Area Includes Pasco, Hernando, and Citrus Counties » Transportation and Infrastructure



Reply

 
Thread Tools
Old February 27th, 2007, 09:57 PM   #1
FloridaFuture
Former Mod
 
Join Date: Jun 2005
Location: Tampa/Gainesville
Posts: 5,240
Likes (Received): 144

Realtors' Report Says Housing Slump End in Sight

Realtors' report says housing slump end in sight
Tampa Bay Business Journal - 2:51 PM EST Tuesday, February 27, 2007

Florida's existing home market received another blow with the January sales figures released by the Florida Association of Realtors, but the future appears brighter, FAR said.

Sales dropped 41 percent in the Tampa Bay region to 1,768 homes sold, while Sarasota-Bradenton's sales dropped 8 percent.


Statewide, existing home sales fell 27 percent from a year ago.

Existing home sales likely will gradually rise this year and into 2008, according to the latest housing outlook from the National Association of Realtors.

"Home sales may appear weak in comparison with the record surge in 2005, but they will be sustained at historically high levels that are in line with long-term demand," said David Lereah, NAR chief economist, in a release.

Florida's median sales price for existing single-family homes in January was $239,300; a year ago, it was $243,200 for a 2 percent decrease. In Tampa Bay, it was $214,900, and a year ago the median price was $216,000.

The housing prices peaked last June at $239,600 and have been in a decline since then, having given up all of the gains since the first half of 2006.

Sales of existing condominiums in Tampa Bay also decreased last month with a total of 379 condos sold compared to 740 in January 2006 for a 49 percent decline, according to FAR. The local median sales price for condos last month remained stable at $183,200; a year ago, it was $184,300 for a 1 percent dip. NAR reported the national median existing condo price was $227,000 in December 2006.

The FAR provides programs, services, continuing education, research and legislative representation to its 170,000 members in 68 boards/associations.

http://tampabay.bizjournals.com/tamp...l?surround=lfn
FloridaFuture no está en línea   Reply With Quote

Sponsored Links
 
Old February 28th, 2007, 12:32 AM   #2
Jasonhouse
Registered User
 
Join Date: Jul 2002
Posts: 13,404
Likes (Received): 463

Quote:
"Home sales may appear weak in comparison with the record surge in 2005, but they will be sustained at historically high levels that are in line with long-term demand," said David Lereah, NAR chief economist, in a release.
Nice to FINALLY see an article mention the reality of the situation, not just the fearful buzzwords swirling around.

Yes, sales have fallen off since 2005, an all-time record year brought about by low, low interest rates, and people determined to 'lock in' a new home purchase while the rates were low... But looking longer term, sales are STILL above the historical trendline, even with the reported "crash"... Maybe it isn't a housing "boom" any longer, but it sure as shit isn't a housing "crash" either. In fact, basically the only people hurting in housing right now are the builders/contractors who lost touch with reality, and the investment flipper types who got caught holding the bag.
Jasonhouse está en línea ahora   Reply With Quote
Old February 28th, 2007, 12:36 AM   #3
Maxim98
Registered User
 
Maxim98's Avatar
 
Join Date: Jul 2005
Location: San Francisco, CA
Posts: 1,264
Likes (Received): 20

Jason, you just described most of the market right now, lol - flippers and builders. No wonder they're freaking out....

My family owns a Real Estate franchise and sales are definitely sluggish, but listings are up BIG TIME. The whole situation is just over-exaggerated by the investors and those who flocked to the profession in hopes of making a quick buck. Realistically, things are fine. Actually, I'm glad demand is a bit lower - helps the hugely inflated prices drop to more realistic levels...
Maxim98 no está en línea   Reply With Quote
Old February 28th, 2007, 04:56 AM   #4
Jasonhouse
Registered User
 
Join Date: Jul 2002
Posts: 13,404
Likes (Received): 463

^The thing is, demand is only lower in certain sectors...

At work, business is doing well... While they were sluggish last year from getting too into residential, now that the company is back to being more 50/50 between residential and commercial, we don't have enough people for all of the work we have going on. Commerical and industrial real estate activity is fairly solid right now., or at least it is for my company.
Jasonhouse está en línea ahora   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off



All times are GMT +2. The time now is 07:20 PM.


Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Feedback Buttons provided by Advanced Post Thanks / Like v3.2.5 (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2014 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu