South Tampa housing market firms up...a bit

It seems that the absorbtion rate for homes in South Tampa continues to rise. At the same time we are seeing the inventory falling month to month. Here is a graph from zip code 33629:

The absorbtion rate is the number homes that sell per month. From March of 2008 to August 2009, the rate has gone up over 2%. At the same time the inentory is down by over 100 units. This means that the Inventory is down to a 13 month supply.

While the market is far from healthy, it appears that the trend in many South Tampa Real estate markets is in the right direction.