USA Today recently surveyed prominent economists to determine economist expectations for the balance of 2013 and got optimistic results. “After starting the year slowly, the economy will shift into a higher gear this summer and then grow for the next nine months at the fastest pace in three years, according to the median estimates of 46 economists.” Part of this optimism is due to the government raising their estimate of average monthly job growth and increasing the forecast to 184,000 by 4th quarter.
The estimation is that the first half of 2013 will remain sluggish while the government deals with spending cut, but that mid-year should open up. “What’s more, the economists expect the effects of the federal cuts to fade by the fourth quarter, with growth picking up to a 2.7 percent pace. They say the housing market is rebounding, a rising stock market is boosting consumer wealth, the European financial crisis is easing and Corporate America is cash-rich.”
What does this mean for the housing market here in Tampa Bay? If the economists are right, it means the time to buy is right now. Prices should be expected to rise by mid-year. For sellers, this is a great time to reconsider listing your property. Unprecedented low inventory, a recovering economy and rising home value… combined with low interest rates can swing the pendulum back to sellers. This is a changing market and often localized to specific areas. There is no more important time to use a real estate professional than now. The PURTEE Team stays informed about the Tampa Bay market and stand by ready to help both buyers and sellers. Visit our website at www.floridagulfproperty.com or email us at firstname.lastname@example.org