Melissa Yardy St. Pete Beach
Buyer’s Market? Seller’s Market?
This seems to be the question I get on a regular basis about Real Estate, specifically “How is the real estate market?” This is a question that in 2009 evoked shutters from the responder who has been a real estate practitioner since very little was good about being in the real estate business. In 2010 we started to notice some improvement and at the end of the 2011 quarter we definitely started to notice a turn around in Pinellas County and the Gulf Beaches.
By the beginning of 2012 we noticed a significant decrease in listing inventory and fewer and fewer short sales and foreclosure were available. Now, seemingly overnight we have a significant shortage of homes from buyers to choose from and multiple offers on properties new on the market. This of course, means that there are suddenly multiple bidders and prices are going up. That’s great news for homeowners and that would typically mean it’s a Sellers Market.
Interestingly enough, and the first time in my 30 plus years in this business, it is also a Buyer’s Market. The housing price index’s show that homes have never been more affordable and with rates below 4% at this time, it is a great time to buy and with all indications buying real estate is a great