Blog

The State of Tampa -- Sept 2018

Inventory Increase
August 2018 saw a +5.8% increase in Single family home inventory compared to August 2017. A welcome sign for buyers frustrated with lack of inventory. Inventory has been increasing incrementally since March '18.

Still a seller's market
While we have seen small, but consistent increases in inventory, there are still only 2.8 months supply of inventory on the market. 5.5 is the benchmark for a balanced market, with anything lower favoring sellers.

Slim pickings for investors
Foreclosures are down 24% year over year and short sales are down 40%. With less "deals" available, it can be difficult for inexperienced investors to enter the market.

Did you know?
Low interest rates and aggressive easing programs fueled a massive run-up in global debt from $172 trillion pre-crisis to $247 trillion now. Chinese debt rose 460% to $40 trillion, global government debt is up 73% to $67 trillion, and total U.S. government debt has soared nearly 82% since the Sept. 15, 2008.

Did you know?
As of June 30, 10% of American homes with mortgages were “seriously” underwater, according to ATTOM Data Solutions: their market values were at least 25% lower than the balance remaining on their mortgages. (Reuters)

Did you know?
The latest round of US tariffs hits about $10 billion worth of Chinese products exclusive to homebuilding and remodeling, according to the National Association of Home Builders. The tariff starts at 10%, but could rise to 25% by the end of the year. That would be equivalent to a $2.5 billion tax increase on the industry. Homebuilding inflation is rising. Which makes replacement cost higher. This could be good for maintaining valuations of real estate. (CNBC)

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