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Florida

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Zorro

(17,696 posts)
Fri May 23, 2025, 09:52 AM May 23

Florida's pandemic housing boom is over. Are we headed toward a crash? [View all]

Inventory is up. Prices are down. But buyers still aren’t biting.

For a time, Tampa Bay was one of the hottest housing markets in the country. But falling prices and lagging sales across the Sunshine State signal a stark reversal from the pandemic-fueled home buying boom.

“People were getting used to making huge profits on their houses in a short period of time,” said Michael Wyckoff managing broker of Engel & Völkers Madeira Beach. “That’s slowing down.”

The number of homes sold in the Tampa Bay metro area remained flat year over year, but dropped about 20% since 2022, from when the market was booming. That’s according to preliminary April data from Homes.com, a subsidiary of the real estate firm, CoStar Group.

Counties that were badly hit by Hurricanes Helene and Milton faced even greater losses. Since last year, sales decreased by 8% in Hillsborough County and almost 13% in Pinellas, according to April data from Suncoast Association of Realtors.

https://www.tampabay.com/news/real-estate/2025/05/22/tampa-bay-florida-home-market-buyer-seller/

Developers are still building homes like crazy around where I am now. Guess last year's hurricanes hasn't fazed them.
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