Falling Housing Inventory in Hillsborough County

While the media keeps screaming that the sky is falling, they will likely be behind the curve as the inventory drops just as they were when the deflation of home prices began.

In the summer of 2005, daily inventory of homes in Hillsborough County struggled to maintain 3,000 active listing. By late 2005 inventory had risen to about 6500 homes. It continued to rise through out 2006 topping 14,000. The county inventory continued to rise through out 2007 and prices tumbled. At one point there were 19,000 homes on the market on any given day per our local MLS. (the board had different numbers that were even worse)

The story you don't hear in the local media is how our market inventory is dropping. As of today there is slightly more than 13,000 homes on the market. In other words we are below the inventory of late 2006. Inventory has dropped nearly 1,000 since November 2008.

If you limit the inventory to single family homes and townhouses you have a county-wide inventory of less than 10,500 in a county with over 1,000,000 people.

The story our local media isn't telling the public.

posted by: www.TampaHomeBuyer.info

Rick Fifer, Florida Executive Realty