Report: Tampa Bay housing market shows signs of cooling off
Home sellers are feeling the pressure of a red hot housing market cooling off, according to a new report by Realtor.com. The report shows that the housing market in August saw the first year-over-year increase in time on the market (+5 days) since June 2020. Houses in the Tampa Bay metro area spent an average of 37 days on the market, a three-day increase from last year. Data shows a housing market that is getting a break from the past two-plus years of frenzied buyer demand that outmatched supply,…Original Article
Wells Fargo Senior Economist Mark Vitner said the nation’s housing market is faring even worse than recent headlines suggest.
Leading housing and finance experts gathered last week in downtown St. Petersburg to discuss local opportunities and barriers for missing middle housing, aka gentle density housing like accessory dwelling units, duplexes and triplexes. The city of St. Petersburg is already taking steps to address the issue. In 2019, city council approved the creation of a neighborhood traditional mixed residential zoning category, which allowed for the development of missing middle housing in certain neighborhoods…
Several metropolitan areas across the United States are seeing a radical shift in their housing landscapes because of relocations from higher-cost markets.
Lori Greenly, the founder of Denver High-Rise Living who is known in The Mile High City as the “condo queen,” is moving to St. Petersburg to help evolve accountable condominium policies throughout the U.S. When Surfside’s Champlain Towers South condominium collapsed last summer and killed 98 people, Florida lawmakers responded by creating legislation that would strengthen what’s required of condominium associations, from having enough cash in their reserves to fund repairs to property inspections. It’s…
A Tampa developer has started construction on a 3,000-home master-planned community in Manatee County. Seaire, as the project has been dubbed, is less than 2 miles east of Interstate 75 on Moccasin Wallow Road in Parrish. One of Metro Development Group's signature man-made lagoons will anchor the 600-acre community. Model homes and a community welcome center will open in 2023, Metro Development Group said. Seaire will open with four builders: Lennar, Biscayne Homes, D.R. Horton and Jacksonville-based…
Developers are expected to deliver more apartment units to the Tampa Bay area in 2022 than they have in the past five years, according to a recent report from RentCafe.com. Tampa Bay has 6,092 new apartments expected to hit the market by the end of this year, according to the apartment listing website run by Santa Barbara-based property technology company Yardi. The Tampa Bay metro ranked No. 20 for the number of projected deliveries nationwide, behind Minneapolis (6,266 units) and San Francisco…
Migration and suburbanization trends observed since the onset of the Covid-19 pandemic are closely tied to housing, as households seek inventory and affordability and, perhaps, have new priorities since the pandemic.
Tampa and Miami have continued to top other metro areas across the country in home-price increases, according to an analysis released Tuesday. The Tampa area had a 35% price increase in June when compared to a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Tampa was followed by the Miami area at 33% and Dallas at 28.2%. Tampa and Miami also led other metro areas in April and May. They were the only areas of Florida included in the 20-market analysis.…
This is the third regional expansion for the national multifamily developer in under a year.