Tampa Home Glut Is Huge

So many for-sale homes continue to bloat the area real estate market - nearly 41,000 - that sales as a share of total home listings are at their lowest point in recent memory. Realtors call it "absorption" and it's easy to calculate: Just divide total monthly sales by the total number of homes on the market. In February, it was 5.4 percent. In other words, about one home of every 20 on the market found buyers. In hard numbers that's 2,225 out of 40,896 single-family homes and condominiums. Two years ago, during the peak of the last boom market, absorption was running beyond 50 percent, meaning half the homes on the listings sold in a given month.

Click here to enter the Tampa Realtors MLS (updated daily)
Register to receive an email every morning of today's new listings
Visit my website or contact me by email