According to FNC Residential Price index the housing market
had an increase of 0.7% from March to April. The FNC Residential Price index is
the first hedonic or first platform to estimate values of the Residential
market.
The 0.7% market increase is the largest increase since June
2012. That is great news considering the hugh slump we’ve had the last few
years. The increase is due to historically low interest rates, credit
availability, low prices and other factors.
In many markets including the Tampa Bay market, the inventory is low and
there are multiple offers on homes. Many of times the offer are cash.
The FNC also noted that Foreclosure
activity continued to decline, with distressed sales meaning Bank owned homes
and short sales make up only 16% of total home sales, down from 17.8% in March
and 21.6% a year earlier. All the factors indicated above demonstrate the
market is recovering.
Ainsley Daux
Florida Realty
(813)546-1954
www.brandonpremierrealestate.com
