Uncertainty may be the word of the day, but that doesn’t mean you have to place all of your plans on hold. For those interested in buying property in the Tampa area, there’s great news. According to ATTOM Data Solutions, a California property data company, the Tampa Bay area is one of the least vulnerable to coronavirus’s effects.
While this is certainly positive, you may be asking how ATTOM came up with that calculation.
Well, the company took a look at a few different factors, including foreclosures, homes with mortgages larger than their market value, and the percentage of income it took to buy a home in the first quarter of 2020.
In the Tampa area, it took a lower percentage of income to purchase a home (31.7 in Pinellas County), plus the area has a low percentage of homes in foreclosure. Pasco, Hillsborough, and Pinellas are all mentioned as counties that are least vulnerable to some of the negative economic effects of the current pandemic.
You can learn more about ATTOM’s report from the Tampa Bay Business Journal.
Yes, things are uncertain right now. But as we move forward to start reopening the nation’s economy, the Tampa real estate market is in a great spot. Let’s talk about finding you that dream home or selling your current property!