The Tampa real estate market seems to be rallying nicely following a number of good news reports on the state of the local economy and home sales. The efforts of the federal government seem to have aided the situation somewhat, and a number of key indicators are becoming stronger. According to a November 7, 2009 article in the Saint Petersburg Times, both realtors and construction employees are grateful for the recent extension of the home buyers tax credit. The piece, composed by James Thorner, “Pinellas County Realtor Steve Capen’s clients were hot for the $8,000 first-time home buyer tax credit, but right around September, business started turning cold…The stimulus also helped the Florida housing market reabsorb tens of thousands of foreclosure homes that otherwise might have lingered on the listings.”

The lower number of Tampa homes for sale which are so-called “short sales” has recently declined, according to an October 28, 2009 article in the Tampa Tribune. The piece, composed by Shannon Behnken, found that “Foreclosure activity remains high in Tampa Bay, but the area is seeing a decline in filings, unlike other parts of the country, according to Calif-based RealtyTrac. There were 17,012 Tampa metro properties with foreclosure filings in the third quarter, down 4.99 percent from the same period a year ago and down 6.13 percent from last quarter. Still, that means one in every 77 households received a filing during the quarter, compared to one in every 136 households nationwide. The decreases in activity could point to improvement in states that have been leading the housing downturn.”

A similar positive note for real estate in Tampa was reported by an October 28, 2009 article in the Tampa Bay Business Journal, which found that “Foreclosure is still a major issue affecting the Tampa Bay area, but it’s not as bad here as it is in the rest of the state.” Another article in the Tampa Bay Business Journal found that “However, there was some good news: the year-over-year decline is improving compared to previous months, including a 16.85 percent drop in July and an 18.12 percent fall in June.”