Tampa Bay Housing Market Shows Signs of Cooling Off

bizjournals bizjournals | 1 year ago

The once red-hot housing market is showing signs of cooling off.

Report: Tampa Bay housing market shows signs of cooling down

bizjournals bizjournals | 1 year ago

Last month may go down as a turning point in the red hot housing market since the coronavirus pandemic's start. A new report from real estate listings website Realtor.com found that the number of new listings to hit the market last month rose for the first time since June 2019 nationwide. As a result, May home shoppers had 8% more active listings to scroll through than they did last year. In Tampa Bay, new listings increased by 11.2% year-over-year with a median price of $437,000, a 30% inc...

Tampa Bay housing market shows no signs of slowing down, latest study finds

bizjournals bizjournals | 1 year ago

Despite the rest of the nation slowly recovering, the Tampa Bay housing market continues to increase.

Report: Homebuilding in Tampa Bay slows down as housing market cools off

bizjournals bizjournals | 1 year ago

Sun Belt metros continue to be one of the hottest places for homebuilders throughout the nation, according to a new report that highlights which areas need it the most as inventory continues to dwindle. Seattle-based Redfin Corp. (NASDAQ: RDFN) recently found that 49 of 53 U.S. metropolitan areas with more than 1 million residents issued more single-family building permits per capita in the first quarter than they did on average in the 10 years before the pandemic. While homebuyer demand has s...

Tampa Bay housing inventory continues to rise, report shows

bizjournals bizjournals | 1 year ago

Housing inventory rose for the third consecutive month in July, as active listings were up 30.7%, according to a Realtor.com report. The report highlights that while buyers had nearly a third more for-sale home options in July than in the previous year, competition remained in favor of sellers, with listing prices near all-time highs and homes selling faster than before the start of the pandemic. “The U.S. housing market continues to move toward more evenly balanced supply and demand com...

Report: Tampa Bay rent prices show signs of slowing down

bizjournals bizjournals | 1 year ago

Tampa Bay residents have witnessed rents skyrocket to record-high numbers over the past two years, but a new report highlights how that growth is slightly slowing down over the last few months. Apartments.com, a CoStar Group company, published an in-depth report of multifamily rent growth trends for August. According to the report, the Sun Belt region continues to have a strong hold on the market, home to six of the top 10 rent growth markets. But the same markets with the fastest growing re...

Report: Tampa Bay residents support affordable housing measures

bizjournals bizjournals | 2 years ago

The research team surveyed 12,000 people in 26 metro areas.

'Point of transition': Philadelphia-area housing market shows signs of cooling, but sale prices cont...

bizjournals bizjournals | 1 year ago

The current housing market is at an inflection point that may bring some semblance of predictability to a market marred by turbulence and unpredictability over the past two years.

Report: Tampa Bay housing prices up 70% since 2019

bizjournals bizjournals | 1 year ago

Although the housing market is cooling across the nation, home prices in the Tampa Bay area are still far higher than before the pandemic, according to the latest Zillow report. Home sales are slowing down as rising mortgage rates drive up monthly payments. The data shows that newly pending listings nationwide are down 18% from August and 29% since 2021 across the U.S. as affordability challenges mount. Homes in Tampa Bay saw a typical home value of $391,114, a 0.2% decrease since August, ...

Report: Tampa Bay susceptible to a housing downturn amid recession

bizjournals bizjournals | 1 year ago

The Tampa Bay housing market has reaped the benefits of people migrating to the area during the Covid-19 pandemic, but a Redfin report finds that may be coming to an end soon. Areas where home prices soared during the pandemic, such as Tampa Bay, are most likely to amplify the effects of a housing downturn and declining home prices if the economy goes into recession. Redfin analyzed housing markets in the 98 U.S. metros where sufficient data was available using several housing-related indica...