Home Prices on the Rise: Has the Temple Terrace Market Stabilized?
There’s good news on the real estate front throughout America and right here in the Tampa Bay area. But, do you think the trend applies to Temple Terrace?
After years of stagnation, real estate analysts are finally reporting some good news on the home front.
According to Bloomberg, home prices rose more than analysts initially thought they would year-over-year in July.
“The S&P/Case-Shiller index of property values in 20 cities increased 1.2 percent from July 2011, the biggest 12-month advance since August 2010, a report from the group showed today in New York,” Bloomberg reported.
Analysts anticipated a 1.1 percent gain. While that 0.1 percent might not seem like a lot, it’s translating to seemingly good news in the Tampa Bay area.
The Tampa Bay Times reported that local home sales were up 12 percent in July over reports from July 2011. The median sales price also grew by 8 percent, bringing that number to $130,000.
Do you think the Temple Terrace housing market is following the trend? Cast your vote in our poll or add your comments below.
Pam Devoid
8:54 am on Wednesday, September 26, 2012
Home prices did rise, however that is only because the banks are holding back on putting the foreclosures into the market place for sale. They have allowed the market to level out a bit, but a second round is coming. We have 391 homes in our subdivision in Temple Terrace, many are in foreclosure and pre-foreclosure status (Over 40), however the banks are not moving on them at this point, a second wave is coming, but for those trying to sell I say do it not while the market is up. Then you have the news of the Blackstone group coming into the area to buy rental homes, a group with 1 Billion dollars to invest, planning to buy over 15,000 homes most of them in our county and the three surrounding counties, no one really knows what effect that will have on the market. Either way we are not out of the woods yet.