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…

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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…

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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…

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CEO Report | June 17, 2022

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…

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CEO Report | June 3, 2022

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…

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CEO Report | May 20, 2022

Florida and, certainly Tampa Bay, continue in a familiar holding pattern, despite changes all around us.   GTR Economist Elliot Eisenberg reports the region’s low inventory, a product of the continued hot market, will largely insulate us from the impact of higher prices and higher mortgage rates occurring elsewhere. Tampa remains among the nation’s fastest…

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CEO Report | May 13, 2022

As rising mortgage rates are beginning to cool other markets, Florida’s increasing population is likely to keep our housing market in a relative status quo for a while, state-based researchers say.   Conversely, Moody’s Analytics chief economist Mark Zandi cautions that “overvalued” housing markets could see home prices slip 5% to 10% over the next…

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