The median listing home price in Tampa, FL was $475K in June 2024, trending down -3% year-over-year. The median listing home price per square foot was $294. The median home sold price was $430K.

This might be a reason to consider purchasing a home now. If you wait for interest rates to go down, that may not be a good idea, as experts predict that housing prices will rise again if interest rates go down. If you buy now, you can always refinance when rates go down, but you will have tied down the lower house price.

Real estate appreciation potential remains robust. Despite periodic fluctuations, real estate has historically appreciated over the long term. Buying a house now positions buyers to potentially benefit from future increases in property values, thereby building equity and wealth over time. This growth can be especially advantageous in desirable locations or rapidly developing areas.

Real estate has historically acted as a hedge against inflation, as property values and rental incomes tend to rise with inflationary pressures. By purchasing a home now, buyers can potentially safeguard against future inflationary impacts on housing costs.

If you are purchasing a home or looking for a new mortgage, call Ruth. Ruth Schoenherr is a mortgage broker who will help you find home loans in the Clearwater and Tampa Bay area, and serving all of Florida. For more information, go to her web site at www.ClearwaterMortgageBroker.net or call at 727 447-2418.

Ruth Schoenherr NMLS Florida Mortgage Lender License 336647

Innovative Mortgage NMLS 250769