Prudential Tropical Realty Announces First Quarter Increase
TAMPA BAY, FL – Prudential Tropical Realty announced this week that it has posted an increase in sales during the first quarter of 2009. During the time period of January – March, 2009 the company posted a 20 percent increase over Jan.-March 2008 in pending dollar volume. Even more encouraging is that the company saw an increase in closed dollar volume of approximately 39 percent over the previous year.
This latest trend may be an indication that buyers are beginning to realize the benefits of buying now vs. waiting until later. “A better understanding of true market value, coupled with the lowest mortgage interest rates in more than 30 years, have at long last motivated buyers to move off the fence and make a home purchase,” explained Dewey Mitchell, Broker/Owner, Prudential Tropical Realty.
Furthermore, according to a February report produced by the Greater Tampa Association of Realtors, the Tampa Bay area is now experiencing a nine month supply of housing inventory. This is a significant improvement over the same time period in 2008 during which there was a 14 month supply of homes.
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