July homes sales in Pinellas, Hillsborough rise as prices dip

According to the Greater Tampa Association of Realtors, sales rose in July to 1,736, a 23 percent increase from July 2008. Tidings were similar from the Pinellas Realtor Organization. July home sales rose 26 percent from a year earlier to 1,134. In both counties, home sale prices dipped 21 percent year over year. The supply of homes on the market is high but constricting. In Pinellas, inventory was 12,479 in July 2009 versus 15,919 in July 2008. In Hillsborough, the number of homes for sale dropped to 14,187, lowest since May 2006. Investor interest appears strong. All-cash deals accounted for 31 percent of sales in Hillsborough and 44 percent in Pinellas.

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