Health & Fitness
Is the Safety Harbor housing boom here to stay?
Boom or bust? Are Safety Harbor home prices going to continue to rise at this pace? What do you think?
So much for all of the analysts last year that said the foreclosure inventory would keep the housing market depressed for another 2-3 years! It looks like the analysts at Pro Teck might have been one of the few who got it right last year when the predicted rising home values for 2013. The housing market recovery is sweeping across most of the nation this year. We’ve certainly seen our share of increased home values in Safety Harbor, with the median price point up double digits in some single family neighborhoods! But is it here to stay? Or is this an artificial or temporary market of sorts? The obvious factor driving the Safety Harbor and Pinellas County housing market right now is the dramatically low inventory that is available. There’s simply not much for buyers to choose from that’s in good condition. How long will it be before we see a rise in inventory that will stabilize these rapid price increases? Will owners with rental properties start to put homes on the market as sales prices become more attractive? Will the banks that are finally breaking even after paying back their “bail-out” money start processing foreclosures in a timely manner? Will the homeowners who need to relocate or downsize, but have been underwater for so many years, finally be able to put their homes on the market? Will the large companies who have been buying in bulk this past year “flip” these properties and put them back on the market next year? Will all of those unsuccessful sellers during the years of market decline be able to sell their properties now?
What do you think? Do you agree with the analysts that say that the housing market has rebounded, or do we still have a couple years of uncertainty ahead of us?
Be sure to download the Safety Harbor Market Report here that’s created every month specifically for Patch.com subscribers in mind! The report includes all homes currently for sale in Safety Harbor as well as what homes in Safety Harbor have sold for in the past 30 days.