The inevitable has happened

It was bound to happen even in the hardest hit housing markets.

Prices are starting to inch upwards.

According to the Stander & Poor's/Case Schiller 20-city home price index prices rose .3 percent in the seasonally adjusted rate from December to January.

The index doesn't track Sarasota and Manatee but for the Tampa area there was a .5 percent increase according to an article in the Sarasota Herald Tribune.

We have been talking about price stabilization for months in our area. The next step is price increases.

The higher end homes for sale are starting to feel a dramatic impact of price drops while the more affordable homes are seeing stablization and probably the first signs of potential price increase since the bubble burst.

This doesn't mean anyone who bought during the height of the market will soon be getting back their investment but it can mean those who bought before the frenzy could see an increased return on their homes.

It could take years to recover back almost a decade in price increases. The slope downward appears to have stopped and that climb may have begun.

All the best
Greg Owens P.A.
Keller Williams On the Water
941.932.6343
greg@teamworksfla.com
www.teamworksfla.com