Home Buying in 32507>Question Details

Lee Sherman,  in Pensacola, FL

Is there really a housing shortage in the Pensacola area?

Asked by Lee Sherman, Pensacola, FL Thu Sep 19, 2013

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3
Housing Shortage in Pensacola?
Only for affordable rental housing. It is still a Buyer's Market in Pensacola with home prices far lower than replacement cost. Rental rates are almost twice the monthly purchase cost. Pensacola is still one of the lowest cost used housing markets in the country.....and this is a resort area, OMG!
0 votes Thank Flag Link Mon Sep 23, 2013
Only in the affordable rental market. Plenty of homes available for sale at some of the best prices in the USA.
0 votes Thank Flag Link Thu Sep 19, 2013
Well, it's a far cry from the saturated market of 2008, but there still remains almost 3,500 residential listings currently available, as of last month. There ARE positive signs to today's market including a reduced number of days that a home sits on the market, an increasing number of residential home sales, and a HIGHER AVERAGE SALES PRICE over last year. We will likely continue to face Short Sales and Foreclosures here locally, which does slow the market's recovery a tad. I purchased and reside in a home in the 32507 zipcode, so please do not hesitate to reach out to me with any further questions you may have.
0 votes Thank Flag Link Thu Sep 19, 2013
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