Is Real Estate kicking off to a great start in 2015 so far? We are seeing the glass is half full on this one...
The good news is with prices are still a little bit higher, more lower and sellers are up from under water and they may list their homes in the spring market 2015. Home prices are up to 4.5% nationally year/year. About 1/2 the gain from a year ago since last fall. Affordability sidelining buyers. Home sales were down dramatically in November & December which prices could be the culprit. Now the number of homes for sale were down a year ago but the number of affordable homes for sale that is way off. A survey was done on potential home buyers which unfortunately the top three obstacles to home buying were:
11% Lack of home sale
33% affordability in the area I want to buy
first time since 2012 more buyers say affordability then lack of inventory.
Tampa Bay Real Estate graph