Analysts Say Tampa Home Prices Have Peaked
Chances are the value of your home has steadily climbed for the past few years since the market was gutted with all those foreclosures and short sales a few years ago. The Tampa Bay Times says the median value of a home in Tampa Bay right now is $213,800. That’s down from the previous month. Not by much. But the big thing is that’s the first time they’ve seen a decline in over 7 years. They go on to say in the article that values have fallen quarter over quarter as well. That indicates to analysts that there might be a trend forming. They say houses are taking longer to sell than they did a year ago and sellers are not as likely to get their asking price compared to a year ago.