The November Home Sales Pace Report
Topics: Tampa Bay real estate
Timing is everything when it comes to the selling and purchasing of a home. If you are considering either buying a home or selling your current residence, it is important that you stay on top of home sales trends to make sure that you take the step to sell or buy at the most providential time for you. Through this article you are provided with a November home sales pace report.
Of course, if you have spent any time at all listening to the news or on the Internet, you certainly know that the housing market across the United States has been problematic over the course of the past year. While some experts are predicting that there will be relief after the first of the year, if you are considering buying or selling Tampa Bay real estate (or any real estate in the U.S.), it is important that you do understand the state of the market today.
First of all, sales of existing homes across the United States was down over 8% in November 2007 report. This actually represents the slowest sales pace for existing homes in nearly ten years. You do need to realize that November report figures are based on October closed sales. Therefore, most experts predict that sales are even lower in reality at this point in time.
The National Association of Realtors actually is responsible for coming up with these calculations and this particular report. The Association actually considers how many homes were sold in the time period in question and then makes seasonal adjustments. These seasonal adjustments take into considerations factors that include school, vacations, weather and so forth.
Home sales actually are expected to slow even a bit further as we enter into the holiday season. As I alluded to a moment ago, many experts predict that home sales finally will pick up at least to some degree following the first of the year, particularly as we head into the spring.
Florida actually has experienced a slowing on the existing home market at a rate even below the national average. On a number of different levels, the Sunshine State actually has been hit harder in regard to some of the problems associated with the existing housing market. This includes a tightening of the home mortgage market and record foreclosure filings across the state. Generally speaking, these trends also hold true for the Tampa Bay real estate market as well.
However, even with these relevant facts noted, most experts are also in agreement that the real estate market is expected to improve across Florida following the holidays, and that includes the real estate market in and around Tampa and Tampa Bay. In other words, there are a number of reasons for buyers, sellers and all other individuals associated with the Floridian market to feel a bit more optimistic about the future on a number of different levels.
Lance Mohr is your Tampa real estate expert, with over ten years of experience and 15 years of investing. Lance can be reached at lance@lancemohr.com. Please visit www.tampa2enjoy.com.
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