Tampa Bay Florida Realtors - Housing prices to rise by 2013?

Atlanta-based Financial Analytics Company Says,"There is good news as well as bad news for Ocala region housing values". The median sales price in the metropolitan Ocala area is expected to carry on its dip during the first half of year 2012, but then increase even more than 20 percent during the next 12 months leading to June 2013, which would be the largest such jump in the nation owing to increased Sale Home in Tampa Florida.

A chief economist for Fiserv, the company indulged in making the real estate prediction, said Ocala's housing price surge will be part of improved home values for some areas of the country, in communities offering vacation homes or retirement areas, such as Ocala and Tampa.

Florida Realtor said that the forecast is based on a series of parameters that suggest improving home prices. One of the most significant parameter in Ocala is the ratio of home prices and income , which has now come back to the levels not seen since before the housing bubble peaked in 2006. The ratio reveals now more Florida Home Buyers have sufficient incomes to afford Florida homes at current prices.

Other parameters considered were mortgage rates, unemployment levels and foreclosure rates.

• The forecast relies on underlying assumptions that: 
• The U.S. economy will persist to modestly improve, and 
• There won't be any economic potholes, such as Euro crisis, that could affect the U.S.

Before the predicted improvement, home values will persist to suffer for the coming several months, Florida Realtor said. The reason behind the decline will be a surge in foreclosures following a stall by banks taking homes back. Also contributing factors will be prolong high unemployment, leaving people not in capacity to pay for their properties, Florida Realtor said. Both of these factors will result in a prolong excess of homes needing to be sold and more supply than demand.

In the Ocala area, Florida Realtor predicts home prices to fall by 2.5 percent between the 2nd quarter of 2011 and the 2nd quarter of 2012. After this decline, he predicts the home values will increase.

Other areas predicted to see home value improvements include Tampa Bay, which Florida Realtor predicts will see a 3.4 percent price dip before a 10.6 percent rise by June 2013. Also the Jacksonville area will see 10.7 percent fall in home sales prices through mid of the year 2012 and a 9.6 percent bounce through the year 2013.

Florida Realtor predicts prolong modest falls in the median sales price during the next year as well as a modest increase of about 5 percent to 8 percent in areas like Ocala by mid 2013. This will, in part, be based on how low prices drop during the next year.

Tampa Bay Florida Realtors said the demand for homes will see improvement when the prices of buying a home will become competitive with renting and Florida Home Buyers essentially can't afford not to buy.

However, due to economists' failure to predict the current depression, Florida Realtor said, "There is still a considerable amount of uncertainty." 

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