Housing inventory low in Tampa Bay area as interest rates near record lows

Posted at 11:40 AM, Jul 16, 2020
and last updated 2020-07-16 11:40:20-04

“If you’re thinking about selling your home, now is a great time to do it, work with a professional to make sure you get through it," explains Rachel Sartain a Pinellas County Realtor with Keller Williams.

Sartain says there's a low amount of inventory for real estate. That means, the few houses that are for sale right now are driving up demand, record low-interest rates don't hurt either.

“We’ve got stories of 200 viewings in two days, 10 offers coming through,” Sartainexplained.

Sartain thinks the situation could continue for the next two years.

Also, if you've been laid off or have lost your job and need help paying the mortgage, furloughing payments is an option.

There are different programs available so make sure you speak with your lender to avoid as much damage to your credit score as possible.