The first month of 2012 saw a continued decline in active inventory. Compared to 2011, there was an overall decrease of 33%, a decrease of 27% on non-distressed properties, and a decrease of 48% on short sales and foreclosures.
Sales are on the rise by a modest 2% from a year ago but 62% of them were non-distressed properties.
Cash buyers are on the rise again. In December of 2011, cash buyers accounted for 59% of the market. This was one of the lowest rates of cash buyers all year. However, it looks as though cash buyers may be on the increase again, as it jumped 5% in January to 64%. Currently this is only month over month and not a long term trend. Keep an eye on February and March numbers to see if the trend continues.
Source :Pinellas County Realtors Organization