Affordable housing markets seem to be hard to come by right now, according to the National Association of Realtors (NAR). Fortunately, this is not our problem here in the Sunshine State.
CNBC runs an annual America’s Top States for Business study that looks at touchpoints like price appreciation, affordability, and foreclosure rates to determine how healthy each state’s real estate market is. Housing is a key metric in the study’s ten categories, and CNBC included NAR’s scoring for affordability of homes at all income levels.
The result? Florida outpaced ‘em all as America’s strongest housing market, earning an A+ rating and the top slot in the economy category. House hunters flocked to Florida during the pandemic, fueling a home-building boom, and show no signs of stopping, with Tampa, Miami, and Orlando topping the list of move-to cities in Q4 of 2022.
Moreover, upside-down mortgages are rare – due to our strong price appreciation in our Florida housing market.
I always keep a close eye on the Tampa real estate market. Home values here have consistently grown despite the challenges of other housing markets. My clients that invested in the Tampa market have homes that continue to bring strong ROI. And what’s more? We are still crushing it when it comes to the cost of living and quality of life, even for first-time homebuyers!
I encourage you to get into this hot real estate market now and build your investment for your future. And with almost two decades of real estate expertise here in Tampa, I know I can find you a home you’ll absolutely fall in love with! Let’s chat today.