24
Aug

Tampa Real Estate Market Update – Existing Home Sales Aug 09

Tampa Real Estate Market/National Real Estate Market

This past Friday we received Sales of Existing Homes (Single-Family & Condo) for the month of July.  The numbers came in at an annual adjusted rate of 5.24 Million up 7.2% from a level of 4.89 million in June.  The July numbers come in about 5% above the 4.99 million units sold in July 2008.  In summary we have now seen four consecurtive months of increasing existing home sales.  These are all positive signs, at the same time we think that the numbers will possible reduce going into the winter months when housing tends to subside from a torrent summer pace.

On a price standpoint we have seen Single-Family home prices decrease on a National basis of (1.9%) from June 2009 to July 2009 and (14.6%) from a year ago.  Sale price of Condo’s have also decreased on a National basis of (2%) from June 2009 to July 2009 and (18.9%) from a year ago.

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