Tampa has come a long way since the great recession. Over one short decade, we have gone from being one of the top three hardest hit real estate markets to being ranked as the #1 healthiest in the entire nation.
What does it mean to be the healthiest housing market? Basically that if there were another price correction to occur in the real estate market, Tampa should be the least affected.
This is great news, not only for homeowners concerned about the long-term value of their properties, but also for individuals interested in starting a career in real estate.
One of the major concerns of any market is what the future holds. How volatile, or how fast can it go up and down, is the investment? While there is still a degree of uncertainty, Tampa ranking as the #1 healthiest housing market in the US instills confidence into prospective purchases of property in the Tampa Bay Area.
How did this dramatic shift occur? Just like I said in the video above, Tampa 10 years ago, is nothing like Tampa today.
If you have lived in the Tampa area, you know exactly what I’m talking about. You can’t go a day without hearing about small business success stories, corporate relocations and let’s not even get started on the multi-billion dollar redevelopment in the Channel district.
Watch the full episode of State of Real Estate below to understand more about the changes that have driven Tampa to be ranked as the #1 healthiest housing market in the US.
You can view the official rankings of the healthiest and unhealthiest housing markets in America at Investopedia.com