More good news in the Tampa real estate market this week, Tampa ranks in the top ten cities for rentals. This information was provided by CNN Money.
According to their report, the labor market is on the rise, down a point in the last 12 months to 10.5% and this coupled with demand is expected to raise rent 12% over the next three years.
What does this mean to consumers? If you are in a position to purchase a home, now is the time! Prices are increasing, our last blog, Tampa Bay Housing Prices on the Rise we shared that prices have increased by 18.5 percent over the last 6 months steadily. With prices on rentals increasing and home prices starting a slow incline, get the best deal you can now. If you are an investor or ever thought of getting an investment property, don’t wait any longer to find your property. This steady increase in price we expect to continue and with rising rent rates, now is the time to buy in order to get a great return on your investment over the long run. If you are a renter, this is a market update for what to expect in the rental market in the coming months/years. Stay savvy in what to expect in rentals and the market overall.
If you would like to discuss your options or real estate goals with a professional, please contact SI Real Estate at 813.631.5144 or email us at Yourhome@sirealestateinvestments.com.
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