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Home investments in Tampa are on the rise.
So much so that HomeUnion, an online real estate investment firm, says the Tampa market is “one of the most appealing in the country.” Despite being a slowing trend nationally, year-over-year transactions increased 2% in the third quarter in Tampa, HomeUnion reports.
“Many buyers are attempting to capture demand from retirees in the Northeast and Midwest,” the report states. “The turnaround in home prices in those areas is encouraging homeowners to unlock their nest eggs and move to Tampa.”
Further fueling investment home purchases in Tampa is the gap between rent-to-price ratio and average mortgage rates. Historically, the larger the gap, the more attractive it becomes to purchase homes rather than rent.
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