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During the early part of this month a series of events took place which generated quite a bit of excitement for consumers and Realtors alike: consumer confidence about the economy hit its highest level of the year, mortgage rates hit the lowest in decades, and home sales jumped by amazing percentages in key markets. 

Nationally, the forces moving real estate right now are increasingly turning positive and encouraging.  Consumers across the country say they’re feeling better about their economic futures, which is always an important factor for future home purchases.  A recent article by Kenneth Harney in Realty Times reported the Conference Board’s Consumer Confidence Index hit its highest point for the year this month, with the “expectations index” component up by 65 percent over February.   (Kenneth Harney writes an award-winning, nationally-syndicated column on housing and real estate and is also the managing director of the National Real Estate Development Center, a professional education company.)

Here in the Sunshine State, the first signs of confidence in the housing market are starting to appear, along with hopes that government stimulus plans will reinvigorate business, according to a recent University of Florida survey. The quarterly survey—based on responses from leaders and professional advisers throughout the real estate industry—indicate “there is light at the end of the tunnel.” Perhaps most significant is those surveyed perceive the outlook of their own business has improved after three years of steady decline.

Locally, the first quarter of 2009 started out strong for existing home and condominium sales in both the Tampa Bay area and the state.  According to FAR, first quarter sales of existing homes jumped 18 percent with the sale of 5,721 homes in the Tampa-St. Petersburg-Clearwater market. 

The good news continues into the second quarter as well, with numbers showing a strong start in the Tampa Bay area.  April home sales hit a 22-month high, according to GTAR.  Sales hit 1,429 homes, the largest number in Hillsborough County since June 2007.  It also was the fourth consecutive month that sales increased from the previous month.

Equally important is that consumer psychology is becoming more positive toward housing which is especially significant for today’s home sellers. Last month, a Gallup poll asked a national sample of Americans whether this is a “good time to buy a house.” The result of that research showed 71 percent answered yes signifying an 18 percent increase in one year and the highest level in four years.  Clearly numbers like these add up to a turnaround getting underway, which is definitely outstanding news for all of us.