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

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

by The 100 Companies

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

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