Tampa led all cities with a gain of 34.8% 2022-06-02
Gulf Coast Real Estate Update
June 2nd 2022
Tampa Bay leads in rising home prices
For years, Phoenix was leading the S&P CoreLogic Case-Shiller index. Not anymore. Prices of Tampa Bay homes went up 34.8% in the year ending in March, the S&P CoreLogic Case-Shiller Index reported Tuesday. Phoenix home prices rose 32.4% and Miami followed with 32%. Cities in the South and Southeast have had the strongest performances, according to the Case-Shiller data.
I’ve always said “If you live in Florida and your not near the beach, you might as well move to Arizona”
Mortgage Rates Stay Relatively Flat
Mortgage rates continued to inch downward this week but are still significantly higher than last year, affecting affordability and purchase demand. Heading into the summer, the potential homebuyer pool has shrunk, supply is on the rise and the housing market is normalizing. This is welcome news following unprecedented market tightness over the last couple years.
