I found another positive news article from Inman news addressing the Tampa Bay Area Housing Market. This study shows that Tampa is in the top 20 for appreciation and is a very good sign that now is the best time to buy a house. It also compares costs of owning versus renting in our market which on a US study is encouraging. It seems that they are basing this study on the current purchase prices of homes, which has become extremly affordable and the future potential to gain equity within 3-4 years.

Statistics have shown the Florida Real Estate Market is much different than many other markets across the country. One, we have foreign money coming into our state from investors looking to get a great deal, two people still want to move to the Sunshine State!

Prospects for buyers improve

Study: Upside by 2012 seen in two-thirds of markets

By Inman News, Tuesday, October 28, 2008. Inman News

Purchase a home in 67 of the nation’s 100 largest metropolitan areas and you should be able to build positive equity by 2012, according to a new study comparing ownership and rental costs.

The report from the Center for Economic and Policy Research concluded that prospects for building equity by 2012 have improved somewhat in 36 cities, compared with an analysis performed in the spring. In many markets, declines in house prices and modest increases in rents are helping return rent-to-price ratios closer to historical levels, the report found.

Equity Accrual Rates in the Top 100 Housing Markets

NEGATIVE Equity POSITIVE Equity

A new report from CEPR and the National Low Income Housing Coalition (NHLIC) updates recent research on the top 100 real estate markets in the United States. The study also compares the costs of ownership and renting in these markets. Click here for copy of tampa-bay-area-makes-top-20-list

Prospects for purchasing a home and building positive equity by 2012 are also good in all 61 markets that don’t fit the report’s definition of a bubble market, its authors said.

The study defined a bubble market as an area where the median home price exceeds annual rent by 18 times or more. An area where monthly rent averages $1,500 a month, for example, would be considred a bubble market if the median home price exceeded $324,000 Our Median Home Sale Price in the Tampa Market as of October 26 2008 for TAMPA is $204,939. You can track median home sales prices and Trends by visiting Altos Reasearch here

If you’ve been considering taking advatange of the buyer’s market feel free to email us info@tamparealestateinsider.com with any questions, or you can search homes for sale in Tampa, St. Petersburg and Clearwater by visiting our Real Esate Search site