While many of us were hoping the sprint to buy a home during the pandemic would be over by now, the race is still on—especially in Tampa.
According to Zillow, Tampa is expected to be the hottest housing market of 2022, with home values in Tampa projected to increase by 24.6%. Of course, for a destination service like Relocate Tampa Bay, this comes as no surprise. Beaches! Jobs! Good Schools! Community! Have you read our article about Tampa’s Gasparilla? We have the only fully-rigged pirate ship in the world!
Even so, for many prospective home buyers, it may seem easier to join the Gasparilla pirate crew than to buy a home. Affordability is a major concern for individuals and families when house-hunting. With interest rates and prices expected to rise across the States, it’s not just a Tampa market issue either.
However, the market isn’t without its glimmers of hope. The pandemic has radically changed the housing market—perhaps even permanently. Based on estimates from the National Association of Realtors, roughly 400,000 more homes were being resold in 2021 than in 2020. Prices are still high, but because more homeowners are selling, there are more properties and price points to look at. If affordability is a challenge, more options never hurt.
Overall, in 2022 Tampa is shaping up to be the biggest housing market in the country. While this prediction may deter you from trying to buy a home in the Tampa Bay area, the market is constantly changing. Keep in mind that expert predictions have been wrong many times before, especially in periods of major upheaval. And remember. Relocate Tampa Bay is here to help. Even in the toughest markets, we are destination experts that can provide solutions tailored to you.