First-time homebuyers might long to buy a house in a hip, urban neighborhood in South Tampa, but area Realtors say the competitive seller’s market has forced younger buyers to settle in the suburbs.
Rae Catanese, a Realtor with RE/MAX Bay to Bay Real Estate Agency, said the prices in South Tampa are higher to begin with — and that’s before buyers get into so-called “bidding wars” that can drive prices even higher. Without the cash, many younger buyers can’t compete.
“It’s a really unhealthy market right now,” Catanese said. “We are down to three months of inventory in Tampa. A healthy market is six months of inventory and an equal number of buyers and sellers.”
via Realtors: Tampa market forces first-time buyers into suburbs.