Tampa Real Estate Market Inventory Drops

A report just out from NAR lists the Tampa Real Estate Market as having an inventory drop by 7.0% year over year.  No surprise here from me as I have been watching the inventory and clients have been writing contracts as fast as the ink flows out of the pen.  The main reason for this drop in my opinion is three fold: First, the pricing is more in line with that of sub 2004 values, I would say somewhere around the 2000-2003 years, interest rates are still very low and people are jumping in with cash in hand.

Usually news like this creates a frenzy in buying which is both good and bad.  The market can not sustain itself like that in 2004 again, and I hope for a more stabilize "neutral" market to come about by the decreased inventory results.  Whatever happens or is happening, the market has begun to stabilize.

Other Areas that showed a decline in Inventory were:

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