The national housing market slowdown has been one of the headlining stories of 2022, after a spike in mortgage rates in the spring turned the heat off what had been historic price growth and buyer demand through most of the pandemic.
Affordability is the signature challenge of today's housing market — even now, as home prices are being slashed across the country, the hurdles to purchasing a house as a first-time buyer remain high.
The report pointed to a “deceleration” in housing prices.
Developer Kolter Urban has topped off Bayso Sarasota, a luxury condominium in The Quay Sarasota Waterfront District. The 18-story tower is located at 301 Quay Commons. It will bring 149 residences to Sarasota’s Arts and Culture District. Bayso is Kolter’s fourth tower in downtown Sarasota. It sold out in 2022, less than a year after its launch. Bob Vail, president of Kolter Urban, said the project has experienced “overwhelming sales success.” The project is expected to be completed in the…
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, but…
A Clearwater developer is seeing an increase in demand for luxury living and believes Pinellas “still has much to give.”
St. Petersburg City Council has approved allocating more than $20.3 million in American Rescue Plan Act funds to six affordable housing projects. In total, 483 affordable units will be delivered via seven projects — six of which will receive ARPA funds. The seventh project will receive support from the Housing Capital Improvement Fund. The affordability period ranges from approximately 40 to 99 years for the different developments. Rising costs from inflation and ongoing supply chain issues have…
An apartment developer has paid $9 million for a shovel-ready development site in Sarasota.
Tampa's next big mixed-use district is moving forward.
Affordable housing projects are being planned with federal money as the housing crisis persists.