Tampa Emerging as The Top Housing Market In 2022

Over the last ten years, Tampa has experienced significant growth. It has turned into a popular place to live as a result of the influx of millions of people to this Sunshine State. That tendency is expected to continue in 2022, according to realtors.

According to a recent report, Tampa will be ranked number ten among the best home markets in 2022. According to the forecast, it is the highest-ranked Florida city. In 2022, Realtors predict a 9.6% increase in house sales and also a 6.8% increase in Tampa home prices.

What is the explanation for this? According to realtors, it is not just the sunny skies and lovely beaches that draw people to the area. Tampa also offers an array of possibilities for young professionals, decent schools, and a low total cost of living, according to Realtor.com. Furthermore, the absence of a state income tax is a significant selling feature.

The economy is built on a varied economic foundation that includes technology, finance, construction, and tourism, and Tampa’s port is Florida’s largest. The rental market now is thriving, and several magazines have named Tampa as the greatest location to live in the United States.

If you are interested to enter the Tampa housing market then get in touch with Wendy Morris Realty who can offer you the latest update about Tampa. Let us share a few important pieces of information about Tampa.

Population growth

According to data from the United States Census Bureau, the population of Tampa has grown by almost 230,000 people in the last decade. According to the most current population growth statistics, the metro area of Tampa Bay presently is drawing more people than Miami, Palm Beach, or Fort Lauderdale.

Job market

Since the 2021 beginning, the Tampa area has added 84,600 new private-sector employment, the maximum of any metro area in the state. Key employment areas e.g., leisure and hospitality, professional, construction, and business services, as well as financial services, are seeing strong job growth as the economy recovers.

Real estate market

Tampa-St. Petersburg-Clearwater is anticipated to be one of the top home markets in the United States by 2022. Home sales are forecast to increase by 9.6 percent, while prices are expected to grow by 6.8 percent, according to Realtor.com.

The attractive market for renters

Some purchasers are being left out by the hot housing market, which is fueling demand for rental properties in the metropolitan Tampa region. Demand for pent-up and low inventory, according to the Tampa-Bay Times, make it tough for any first-time home buyers for competing.

Tampa’s rental market is also garnering institutional investors’ attention. Invitation Homes, for example, is thought to own and also rent about 8,000 single-family homes in the metro area.  

Quality of life

Livability.com inquired why everyone seemed to be relocating to Tampa about two years ago. In today’s world, the answer is still the same. 

The life quality in Tampa is drawing more people, rental property investors, and businesses, and for a variety of reasons, including job possibilities, near-perfect weather, and the rebirth of the urban center and waterfront neighborhoods.

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