It May Be Easier To Buy A House In These Florida Cities Next Year
It’s no secret that the housing market in Florida can be pretty rough. Homes that were selling for $250,000 before the pandemic are selling at about double the price now. But trends are showing that it may be easier to buy a house in certain Florida cities in the next 12 months. The bad news is that Tampa isn’t one of them. The good news is a couple cities on the list are a little over an hour away from the Tampa Bay area. So if you were to move, you could still take advantage of all Tampa has to offer.
We got this info from corelogic.com. They made a study on home price trends based on “property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales.” Click here to read more about their methodology. You’ll notice that large markets like Miami are still seeing increases in home prices. In fact, they had an 11.8% jump in home prices the past year. But other parts of Florida are expected to see a major decline. Core Logic reports there is a 70% chance these cities will see a decline in home prices. Only one city that’s not in Florida made the list. According to CoreLogic, the metro area with the highest risk of a home price decline was Provo-Orem, Utah.
Which Florida cities will see the decline in home prices?
- Lakeland-Winter Haven
- North Port – Sarasota
- Cape Coral – Fort Myers
- Port St. Lucie
Do you think this will cause more people to move out of the Tampa area? Let us know on social media.