Sales of singe family homes in Pinellas County

 

David Bennett, CEO of the Pinellas Realtor Organization has released the market report above for single family home sales in Pinellas Country for January.  Three things stand out.
                                         1. Sales were up + 17.6% over last year
                                         2. The number of days on market dropped -22.6%
                                         3.  Inventory was down -15.5%
These trends have been reported for most major markets. It is interesting to note that 52% of the sales are cash.  There was a time when this figure was around 40%. This may be indicative of the number of coroporate buyers entering the market with cash.  Low inventories are holding back a faster recovery in the housing market.