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Wednesday, 05 April 2017 / Published in Housing Market, Important, Investors, Local, Luxury, Mortgage, News, Real Estate, South Tampa, St Petersburg, Tampa Bay

Tampa Listed As One of the Nation’s Healthiest Housing Markets

Diana Olick | @DianaOlick

Monday, 27 Mar 2017 | 1:30 PM ETCNBC.com

Sluggish housing recovery takes a bite out of the economy  Monday, 27 Mar 2017 | 8:23 AM ET | 03:23

Housing remains in high demand in most of the nation, but the housing recovery looks increasingly uneven, depending on location.

Whether buyers are shopping for their own homes or for investment properties that will throw off some cash, certain markets are becoming far more lucrative than anyone might have expected just a few years ago. Still, some of the hottest markets are falling from grace.

A few of the recession’s hardest-hit housing markets have suddenly some of the healthiest. Tampa, Florida, which lost thousands of homes to foreclosure in the past decade, now takes the title of the nation’s healthiest housing market, at least according to TenX, a real-estate auction and analytics company. It rated locations based on a number of key factors, including population and job growth, unemployment rate and wage growth, as well as industry-specific indicators like inventory and construction.

“Floridais recovering very nicely from an economic standpoint,” said Rick Sharga, chief marketing officer at TenX. “We’ve seen unemployment numbers drop pretty dramatically there. We’ve seen job growth and wage growth stick for a few years now, and we’ve seen a very steady increase in both the sales of homes and home prices.”

Jacksonville, Florida, also made it into the Top 5, based on the same criteria. Las Vegas made a surprise appearance at No. 4 on the list. That city served as ground zero for the housing crash, clocking the highest foreclosure rate in the nation. Prices there are still about 20 percent below their peak of the housing boom, but that is only adding to the area’s allure.

“What we’re seeing is a return to population growth. Prior to the housing bust, Las Vegas had some of the steadiest population growth in the country. We’re starting to see that again,” said Sharga. “And we’re starting to see job growth.”

Not so surprising is No. 2 on the list, Dallas, which didn’t go through the boom to bust that much of the nation did during the recession. The area is seeing consistent employment growth, fueled by its very diverse set of industries of professional and business services, health care and leisure/hospitality. Its population nearly tripled the national rate in 2015.

On the other end of the spectrum, Northern and central New Jersey hit rock bottom of the list. Home prices there are high, while job and population growth are lackluster. Los Angelesand San Francisco are suffering from other ills, namely affordability. Prices are so high and inventory so weak that the potential for both sales and price growth are very low.

Healthiest housing markets

Tampa
Dallas
Columbus, Ohio
Las Vegas
Jacksonville

Unhealthiest housing markets

Northern New Jersey
Central New Jersey
Long Island, New York
San Francisco
Los Angeles

http://www.cnbc.com/2017/03/27/here-are-the-nations-healthiest-and-unhealthiest-housing-markets.html

Tagged under: Best Performing Cities, Buyers, Coldwell Banker, Florida, Home Sales, Hughes Shelton Realtors, Investment, Luxury, Market, Mortgages, News, Real Estate, sell, South Tampa, Tampa, Tampa Bay
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Hughes Shelton Group is a team of real estate agents affiliated with compass, a licensed real estate broker and abides by equal housing opportunity laws. all material presented herein is intended for informational purposes only. information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. no statement is made as to accuracy of any description. all measurements and square footages are approximate. this is not intended to solicit property already listed. nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

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