Forbes online recently ranked the Tampa Bay area as the best place to buy homes. Despite being named by many as one of the worst hit cities for housing market drop, Forbes online predicts the market will have a strong recovery. They are calling it a "V" shaped recovery which gives a stronger, faster rise in the market compared to a "U" shaped recovery. The predictions come from a growing and strong economy in the Tampa Bay area.
Now the question is have we hit the bottom yet? The answer is most likely no. However, considering the fast recovery predicted, the market prices should bounce up fast enough to recover any losses residential buyers might face over the next 6 months. There is still quite a bit of inventory that needs to decrease before the market levels out.
The message to this article is if you are going to take advantage of the low prices, you will need to make your move in the next 6-9 months.