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July marked a huge month for housing

August 12, 2016 by Nick & Cindy Davis

The real estate market heated up in July, with several factors favoring buyers this season. Jonathan Smoke, realtor.com chief economist, says these factors have made this summer one of the best in a decade: The highest consumer confidence for a July since 2007; the best nominal home values for a July on record; and the lowest July mortgage rates on record.

 

 

July marked a huge month for housing

Millennials, aged 25 to 34, picked up their presence in the marketplace this season too. Realtor.com reports that 75 % of its 25- to 34-year-old users last July were thinking about purchasing a house. One year later, in July 2016, that percentage grew to 81%.

Buyers may also be locating a number of choices later in the summer since the amount of listings grew – there are actually 1 % more properties for sale in July compared with June.

But hurdles do remain for buyers this season: It’s tougher to obtain approval for a mortgage than last year, Smoke notes. In July 2015, 5 percent of first-time buyers reported that qualifying for a mortgage had been a significant hurdle. This July, that percentage has risen to 9 percent, Smoke reports.

Also, repeat buyers say their major challenge is finding a home to buy. The share of repeat buyers who say “finding a home” is an issue rose to 25 percent this July, realtor.com reports.

“The good news for would-be buyers who have struggled to find a home or have been outbid in prior attempts is that the balance of power shifts a bit more in your favor in late summer and fall,” Smoke writes in his column at realtor.com. “This is the time of the year when sales slow down, but inventory is at its peak. That means there are more homes for sale per buyer now, and yet mortgage rates remain close to their all-time lows. The window to enjoy the best summer in a decade for real estate remains open for the well-qualified and those ready to act.”

So if you are ready to buy here in the Tampa Bay and Surrounding areas, contact Nick & Cindy Davis with RE/MAX Premier Group. We are always available at 813-300-7116 or you can simply click here and we will get started working for you.

Take a look at a few of the most recent homes that came on the market here in the Tampa Area.

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  • 5013 Terrace Palms Circle #101, Tampa, FL
    5013 Terrace Palms Circle #101
    Tampa, FL
    Photo of 5013 Terrace Palms Circle #101, Tampa, FL 33617 (MLS # TB8405483)
    $198,000
    • Lot Size
      872 sqft

    • Home Size
      879 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      1983

    • Days on Market
      1

    View Virtual Tour

See all Real estate matching your search.
(all data current as of 7/10/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

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  • 1619 E Nome Street, Tampa, FL
    1619 E Nome Street
    Tampa, FL
    Photo of 1619 E Nome Street, Tampa, FL 33604 (MLS # TB8405651)
    $279,900
    • Lot Size
      9,148 sqft

    • Home Size
      1,762 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      1961

    • Days on Market
      1

See all Real estate matching your search.
(all data current as of 7/10/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

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  • 5121 Chatsworth Avenue, Tampa, FL
    5121 Chatsworth Avenue
    Tampa, FL
    Photo of 5121 Chatsworth Avenue, Tampa, FL 33625 (MLS # TB8405644)
    $399,999
    • Lot Size
      7,406 sqft

    • Home Size
      886 sqft

    • Beds
      2 Beds

    • Baths
      2 Baths

    • Year Built
      1980

    • Days on Market
      1

See all Real estate matching your search.
(all data current as of 7/10/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

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  • 15808 Willowdale Road, Tampa, FL
    15808 Willowdale Road
    Tampa, FL
    Photo of 15808 Willowdale Road, Tampa, FL 33625 (MLS # TB8378126)
    $599,000
    • Lot Size
      1.16 ac

    • Home Size
      1,458 sqft

    • Beds
      3 Beds

    • Baths
      1 Bath

    • Year Built
      1966

    • Days on Market
      1

See all Real estate matching your search.
(all data current as of 7/10/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

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  • 10408 Edgefield Place, Tampa, FL
    10408 Edgefield Place
    Tampa, FL
    Photo of 10408 Edgefield Place, Tampa, FL 33626 (MLS # TB8403927)
    $800,000
    • Lot Size
      6,534 sqft

    • Home Size
      2,202 sqft

    • Beds
      3 Beds

    • Baths
      2 Baths

    • Year Built
      2002

    • Days on Market
      1

    View Virtual Tour

See all Real estate matching your search.
(all data current as of 7/10/2025)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 
 

Filed Under: 2017

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Nick & Cindy Davis

“Team Davis”

813-300-7116

813-695-6475

 

RE/MAX Premier Group

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2915 Allegra Way

Lutz, FL 33559
&
6506 N Florida AVE

Tampa, FL 33604

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