[Orionsdolph]

Miami and Tampa top metro area home price increases in US, report finds



"Miami and Tampa continued to top other metro areas nationally in home-price increases in March when compared to a year earlier, according to a report released Tuesday.

Miami remained atop the list for the eighth consecutive month. It had a 7.7% year-over-year price increase, followed by Tampa with a 4.8% increase, according to the S&P CoreLogic Case-Shiller Indices. The two metro areas were the only Florida markets included in the 20 metro analysis. The Charlotte area was next-highest with a 4.7% increase."


May 30, 2023
https://www.tampabay.com/news/real-e...use-cost-list/

[silverct9a]

Great for homeowners, potential home buyers however...well there's always less desirable inland areas.

[lluvia]

Looks like poison for investors...

The biggest year-over-year drops of purchases by investors:

Nassau County, NY: -67.9%
Atlanta, GA: -66%
Charlotte, NC: -66%
Phoenix, AZ: -64.2%
Nashville, TN: -60.4%
Las Vegas, NV: -60.2%
Jacksonville, FL: -56.6%
Philadelphia, PA: -56.5%
Tampa, FL: -54.8%
Orlando, FL: -54.7%

[silverct9a]

On the flip side, If you bought in the Miami Metro you’re doing quite well (if you bought when interest rates were under 4%)…well until our can kicked recession occurs or our long overdue direct Cat 5 hit…which ever occurs first.

[MOforthewin]

Originally Posted by lluvia

Looks like poison for investors...

The biggest year-over-year drops of purchases by investors:

Nassau County, NY: -67.9%
Atlanta, GA: -66%
Charlotte, NC: -66%
Phoenix, AZ: -64.2%
Nashville, TN: -60.4%
Las Vegas, NV: -60.2%
Jacksonville, FL: -56.6%
Philadelphia, PA: -56.5%
Tampa, FL: -54.8%
Orlando, FL: -54.7%

Interesting list there. Unless there isn't many properties for investors to buy in those cities listed.

Places like Philly, and Atlanta with a lot of older homes I'd think investors would be buying them to flip for a profit since they can be bought dirty cheap.

[lluvia]

Originally Posted by MOforthewin

Interesting list there. Unless there isn't many properties for investors to buy in those cities listed.

Places like Philly, and Atlanta with a lot of older homes I'd think investors would be buying them to flip for a profit since they can be bought dirty cheap.

The ones on the list were the go go hot places or so I've read. Got it from Redfin BTW.
The fact is that investors are in it to make money so they're not going to overpay. With grampa and grandma hitting the exit ramp, their shack has to be contended with as well either by selling or renting it out & that should increase the inventory along with the student loan folks that bought houses instead of putting that away in a HYSA.
Could be a real conundrum for some & and inventory increase.

[floridarebel]

That's terrible.