Homes For Sale In Tampa, Miami Soar
According to a new study by Realtor.com, the number of homes for sale (active listings) rose 35.8% in August compared to August 2023. A large inventory of homes is often a sign that people want to leave a market.
Several cities in Florida have posted huge increases in the number of active listings compared to August 2023. The figure is up 90.1% in Tampa which is the highest in the country. The figures are also very high in Orlando at 76.9%, 72.9% in Miami, and 78.3% in Jacksonville.
Cities People Want To Leave
Each of the four cities are in part of the country hit frequently by hurricanes, compared to most other metros.. Hurricane Beryl, a Category 5 hurricane earlier in the year is an example.
One effect of the hurricanes is that home insurance prices have rocketed up, often by high double digits year over year. Insurance companies have left some areas altogether.
People Leaving
Florida was once a Mecca for people who wanted high temperatures and low taxes. Violent storms appear to have tipped the scales in another direction for many residents.
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