South Tampa Real Estate Report
South Tampa Real Estate Market Report | May 23, 2018 - May 29, 2018
I mentioned in mid-March that downward pressure on housing prices is inevitable due to rising interest rates and affordability. Determining when that pressure presents itself is difficult to predict. Recently, however, several experts weighed in on the subject. Read more here. But not everyone agrees that the Tampa Bay area will see a recession in 2020. As quoted in today's Tampa Bay Business Journal, Mark Vitner,senior economist for Wells Fargo Securities Economics Group said, “We don’t see a recession around the corner. We have the economy continuing to grow in 2020.” Regardless of whoever proves to be correct on the precise timing, it appears we have agreement that the Tampa Bay housing market will enjoy its continued rise for the next year and a half.
Have a great week!
Sincerely,
Michael Palermo
