By the end of December 2009, Tampa Bay, Hillsborough County, sold 5,000 more homes than they did in 2008.  Although foreclosures and pre-foreclosures made up a majority of the 21% leap in sales; low mortgage rates, government programs and bargain home prices gave the market that much needed extra push!

Many economists believe that by the end of this year the market will see another wave of foreclosures, along with the end to some of the government programs such as Making Home Affordable and the $8,000 tax credit. According to Lawrence Yun, an economist with the National Association of Realtors (NAR), "Activity should ramp up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010."

The median home price in Florida by the end of the year was $140,400 which is only $400 more than the median home price in Tampa Bay.  These low home prices are very attractive to buyers, especially mixed in with low interest rates and government programs.  But they won't last forever!  Don't miss out on the deals!