CEO Report | October 14, 2022

On Monday, a circuit court judge invalidated the Hillsborough County transportation tax referendum, which was due to appear on the November ballot. The referendum that asks voters to approve a 1% sales tax on transportation, was ruled both “ambiguous and misleading.” Yesterday, in a 5-2 party-line vote, the Hillsborough County Commission said they would appeal…

CEO Report | September 30, 2022

We hope this message finds you and your family safe from the storm. Our hearts and prayers go out to all Floridians affected by Hurricane Ian. The storm was one of the strongest hurricanes on record for the state and it wreaked havoc over large portions of southwest Florida causing mass destruction. Everyone’s safety and…

CEO Report | August 19, 2022

While most cities across the country saw a break last month from price increases, Tampa’s metropolitan area experienced double-digit inflation of up to 11.2%. Hardly a change from the 11.3% high in May.  In July, the Tampa Bay area’s inflation was 4.7 percentage points higher than New York City. While local motorists saw gasoline costs…

CEO Report | August 5, 2022

  There have been several recent discussions on whether the economy is in a recession.  In June, fast-rising home prices and interest rates coupled with an uncertain economy helped cool the nation’s housing market. This led to a nearly 2% increase in the number of homes on the market. That marks the first month since…

CEO Report | July 22, 2022

Florida ranked No. 3 as the most stable housing market in the U.S., according to an analysis by CNBC that weighed each state’s economic health, annual home price appreciation, new construction per year, and foreclosures and insolvency from the beginning of 2022. Rising prices and rates of construction still reflect strong demand for the state as we are seeing gradual signs of housing inventory recovery.  The consumer…

CEO Report | July 8, 2022

Tampa is making headlines again, and this time for home prices.  Tampa recorded the highest year-over-year home price increase of the nation’s 20 largest metro areas in May. While Florida posted the highest home price gain at 33.2% year-over-year.  Home prices across the country increased 20.2% in May 2022, compared to May 2021. Month-over-month prices…

CEO Report | June 24, 2022

While total home sales decline, investor purchases still remain above pre-pandemic levels. Four cities in Florida made Redfin’s top-10 list for investors. Tampa ranked No. 8 on the list at 24.7% of homes purchased by investors in Q1 of 2022, down 16.5% quarter-to-quarter. “Investor home purchases are falling for the same reason overall home purchases…