There’s positive news to report when it comes to Tampa’s future housing market. According to the National Association of Realtors, the Tampa market will likely “outperform” national averages over the next few years.
The group came up with a list of ten housing markets across the nation, including Tampa, it believes will outperform over the next three to five years. The NAR looked at a number of factors to come up with the list including housing affordability in terms of new residents, population age, a market’s home price appreciation and the attractiveness of a market for retirees.
The NAR also considered domestic migration and consistent job growth when compared to the national average, and the Tampa area has been strong in both categories in recent years.
Based on the results, purchasing a home in the Tampa market in the near future could become more feasible as long as supply keeps up with demand. Recently moved in residents make up about 16-percent of the Tampa metro area’s total population, and about a third of people moving in are age 24 or younger, so affordable, entry-level homes should be huge sellers in 2020 especially.
Posted by Mike + Michelle Grizzell on
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