South Tampa Real Estate Report

South Tampa Real Estate Market Report | 10/12/25 - 10/18/25

The government shutdown is affecting real estate sales in Florida, particularly in areas where flood insurance is required. The federal government is the largest provider of flood insurance policies through the National Flood Insurance Program ("NFIP"). Without funding, new flood policies cannot be issued through the NFIP leaving buyers with three choices: 1) seek out private flood insurance (often more expensive than NFIP policies); 2) pay cash for the property (often not feasible for buyers and somewhat risky given that we're still in hurricane season); or 3) cancel the sales contract until the NFIP is available again. Our Florida legislators are pushing a stop gap measure to fund the NFIP through 2026, but nothing has happened at the federal level. Have a great week!

Michael Palermo

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