With low inventory and a growing number of people looking for places to live, the housing market has become ripe for scammers. Real-estate rental scams have now become a persistent problem in the Tampa Bay area. Data from the FBI’s Internet Crime Complaint Center reports the number of victims and loss amount is on the…
Florida’s consumer confidence rose for the second month in a row, from 61.1 in July to 65.2 in August. Looking toward the remainder of the year, national consumer confidence and the ability to endure the higher cost of living will be key to economic activity as talks of a recession continue to grow. The Biden…
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…
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…
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…
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…
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…
Headlines this week addressed many shifts in the real estate industry. The latest iBuyer report from Zillow showed a decline in market share for iBuyers from the previous quarter. Combined, Zillow Offers, Offerpad and Opendoor accounted for 1.7% of all purchases. Homeowners sold 12,652 homes to Opendoor, according to the report. On Tuesday, the online company…
The average cost for a gallon of regular unleaded fuel in the Tampa Bay area reached a new height on Monday at $4.76, according to data from AAA The Auto Club Group. Some experts warn that it could reach between $5-6 this summer. Real estate in areas where people have a long commute could see…
The housing market can turn on a dime, but it can also experience a slow squeeze. This is one big uncertainty real estate professionals are looking to answer. In a recent release, NAR’s Chief Economist Lawrence Yun said higher mortgage rates have increased the cost of purchasing a home by more than 25% compared to…