Home buyers in the Tampa region are finally getting some good news about home prices: They are coming down.
According to the S&P CoreLogic Case-Shiller Home Price Index, Tampa was the only city in the 20-city index to show a price decline over the last year. Tampa's prices dropped 0.37% in the Case-Shiller index, compared to the national average, which rose 3.75%.
The only other Florida city in the index, Miami, saw home prices rise from October to November 2024 and posted a 3.17% increase over the last year.
"Markets out west and in once red-hot Florida are trending well below average growth," said Brian D. Luke, CFA, Head of Commodities, Real & Digital Assets. "Tampa’s decline is the first annual drop for any market in over a year."
Luke continued, "Returns for the Tampa market and entire Southern region rank in the bottom quartile of historical annual gains, with data going back to 1988."
The future of Rays baseball in St. Pete has businesses taking it game by game
"It's gonna be probably a 30% difference of more customers, and that's a big difference for small businesses," said Bill Georgiou, who has owned The Burg Bar & Grill on Central Avenue for 17 years.
