If you are wondering whether the real estate market is doing well, Realtor.com’s Housing Market Recovery Index provides a resounding, “yes!”
An indicator of market strength, the Housing Market Recovery Index helps us look at how well the market is doing in comparison to January 2020. Essentially, it compares a snapshot of the current market against the stats for the real estate market in the last week of January 2020. A score of 100 on the index means that the market is on par with January’s numbers.
The most recent index released August 15th has the market at 104.8, which is better than it was in January. This is a slight dip from the previous week’s high of 105.6, but it is remarkably better than May’s number.
So what is driving this recovery? Demand for homes remains exceedingly strong, and sellers are finally feeling more comfortable listing their homes. There has been an increase in housing inventory over the past few weeks, though inventory remains low in comparison to last year.
But what about Tampa? Well, our beautiful metro area is ranked 19 in the nation with an index score of 105.6. This is an increase of 3.4 over the previous week.
If you want to take advantage of this seller’s market, let’s talk about getting your home listed!