Realtor.com: Tampa is 1 of 4 "bright spots" (Jacksonville: for sale by owner, 2015)

[housingcrashsurvivor]

Housing Report: Market's Out of Whack

Tight inventory levels continue to restrain the housing market across the country, according to the Monthly Data Report released Feb. 19 by realtor.com®, yet four bright spots remain: Jersey City, NJ; Jacksonville, FL; Pittsburgh; and Tampa, FL.

“All four of these markets have very positive economic momentum—strong job recovery, growth in new construction, healthy growth in home prices, and growth in sales and positive demographic trends,” said Jonathan Smoke, chief economist at realtor.com...

...Nevertheless, the outlook is rosy—for sellers, at least. Most housing markets are appreciating in value as homes sell faster. In fact, prices increased 8.8%, according to the report. That’s good if you’re putting a home on the market—not so much if you’re buying...

...Prices will therefore continue to rise in markets where demand outstrips supply, Smoke said. What makes the four standout markets unique is that they have achieved an optimal balance of supply and demand...

...The four standout markets are experiencing 14% price increases...At the same time, houses are selling five days faster....

[EngGirl]

I see houses listed for months with no offers at given price. If the price will increase, I doubt more buyers will be attracted. I am not surprised to see reports like that from realtor.com

[susie8862]

What?????? Omg.....Jersey City, NJ is a S--- HOLE.
The only advantage to this city, is that it is easy access to NYC.

[Pragmaticus]

Originally Posted by EngGirl

I see houses listed for months with no offers at given price. If the price will increase, I doubt more buyers will be attracted. I am not surprised to see reports like that from realtor.com

Did you look at the data for City of Tampa? Or you are just commenting based on what you see in Pasco County? Two different things.

The information that realor.com put is purely data-driven. I have no problem trusting the numbers they have. The subjective piece is what they called a "balanced market."

[Garson]

The market dictates the price. Always has always will. Rising prices on sales is hard data on what the market dictated.

We sold a house last year after listing it at 25% more than the last sale of a similar home in our neighborhood, just to see what would happen. We had nine offers in three days six of which were over asking. The timing was right and the market supported our price.

There are still a lot of homes on the market (a lot of which are For Sale By Owner) with unrealistic listing prices and they sit for a long time. There is one in my neighborhood that has been on the market for the two years we have lived here.
Homes that are realistically priced will move fairly quickly.

[DUNNDFRNT]

Originally Posted by susie8862

What?????? Omg.....Jersey City, NJ is a S--- HOLE.
The only advantage to this city, is that it is easy access to NYC.

Path station to NYC, have you seen the newport area you can't tell it apart from Hoboken, really that whole place took off after 9/11 when a lot of NYC companies moved it infrastructure across the river to Newport area as part of their contingency plan.