Tampa 3rd most popular city to move to the United States

TAMPA, Fla. (WFLA) – Tampa is the third most popular place in the United States where people try to move, according to a new Redfin report on the migration of movers. It follows only two other cities, Phoenix, Arizona., and Miami.

Redfin had already reported national home prices are up 16% compared to the previous year, in February. Zillow also reported that stocks were down nearly 30% in Tampa last month.

The national mortgage rate for 30-year fixed rate mortgages increased by more than 4% as the Federal Reserve decreed its first interest rate hike since 2018, one of seven scheduled for 2022, in a bid to curb rising inflation.

The seller’s market remains in play, and Metro Tampa is the center of it in Florida. Of all the homes sold in the state in the past month, 16% were here in Tampa Bay. In the United States, rental prices have increased by double digits for seven consecutive months, according to Realtor.com.

In Tampa, rent is up more than 30% over last year. Still, the area is in the middle of the pack for the top five places people try to move to nationwide, and Miami is the only other Florida city ranked higher, as the most popular moving destination in the States. -United.

About a third of all home buyers in the United States are looking to move, according to Redfin’s analysis. The five best places to move start with Miami and end with Las Vegas. The next two spots were also in Florida, helping round out the top 10.

  1. Miami, Florida.
  2. Phoenix, Arizona.
  3. Tampa, Florida.
  4. Sacramento, California.
  5. Las Vegas, Nevada
  6. Cape Coral, Florida.
  7. North Port, Florida.
  8. Dallas, TX
  9. San Antonio, TX
  10. Atlanta, Ga.

In its migration study, Redfin said more shoppers left San Francisco, Calif., than any other place in the country in the past two months. Los Angeles, New York, Washington and Seattle followed, with Boston, Chicago, Denver, Portland and Minneapolis finishing the top 10 places people wanted to go.

  1. San Francisco, California.
  2. Los Angeles, California.
  3. New York, NY
  4. District of Colombia
  5. Seattle, Washington.
  6. Boston, Mass.
  7. Chicago, Ill.
  8. Denver, Colorado.
  9. Portland, Oregon.
  10. Minneapolis, Minnesota.

Nationally, Redfin data showed it’s still cheaper to own and pay a mortgage than to rent, but dwindling inventory makes it difficult to find a place to live. Their data showed that in Tampa, the average monthly rent was $2,120, while a monthly mortgage for buyers putting down 20% was just $721.

According to Redfin, mortgage payments were up 22% from a year ago and the median asking price for a home was up 14%. At the same time, new home listings for sale are down 1.4% from a year ago and active listings are down nearly 24%. Redfin reported active listings in Tampa declined further, to 35.6% lower, while new listings fell 5.7% in the region.

The real estate company said the problem stemmed from the COVID-19 pandemic.

“The number of homes on the market fell 49.9% from two years ago to a record high of approximately 456,000,” Redfin reported just before the second anniversary of the start of the pandemic. Over two years, the company’s data showed home prices jumped 34% and the number of homes sold above list price Doubled. Homes are also selling faster, with almost half of sales in a week, compared to 31% before the pandemic.

Florida homes are selling like crazy as prices are up, but inventory is still low.

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