Brighter at the end of this tunnel

Sarasota and Manatee counties had a 32 percent increase homes sales in April compared to last year.

Many attribute that the first time home credit but a lot of the buyers we are seeing are in the move up market.

Also home prices rose 5 percent last month.

Inventory is down significantly.

We have now shifted from a strong buyers market where inventories were high to a weak buyers market where the number of houses for sale has dropped significantly.

It looks like we will be shifting towards a weak seller's market within the next couple of months as the inventory of homes continues to drop.

One note is that the role of foreclosures and short sales has not gone away. The distress sales are keeping prices down.

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