Tampa Bay is home to the state’s most overpriced houses, new report shows

Florida Atlantic University and Florida International University have released a new report that calls Tampa Bay “the most concerning of the state’s metro areas” for overpriced homes.

Compared to the sell rates of homes throughout the state — Florida houses were selling for 21.8%  above their long-term pricing trends, slightly up from the past few months — Tampa Bay area houses are selling for 32% above average.

Researchers cite a shortage of homes for sale, an influx of out-of-state buyers and mortgage rates near historic lows as explanations for the overpricing. The good news? Researchers are not predicting a housing crash.

– Kelly Hayes, Extensive Enterprises Media