Are Homes Overpriced In Florida?

No, homes are not overpriced in Florida. There are very expensive places to look for homes and there are more affordable places to look which are either right next to popular areas or very close to them. For example, Tampa FL has Brandon FL immediately to the east.

Tampa FL

Housing Prices & Overpriced Housing Markets

One great way to identify overpriced housing markets is to look around to see if you can find a reason that it should be sustained. What does that area have to offer? What is the gold that was recently discovered? The most overpriced housing markets will not have good reasons for them to stay expensive.

Real Estate Economist-Florida Housing Market

I'm going to go there. Why are people moving to Florida? Because they don't want to live where they are moving from. They don't want oppressive local and state governments. People move to Florida because they want to be left alone and live in peace. They want good weather and they get tired of a state income tax. Those are intangibles that have a positive impact on hour housing market. The crazier things get in California, Detroit, Atlanta and New York the more new residents want to move here despite higher mortgage rates.

Europe & Asia's Affect On Housing Prices

The same thing that applies for those two locations. People who can are choosing to flee them. Why not move where the weather is best? Where there are beaches and Walt Disney World? Why not sell their homes while housing prices are still high there and move here. This also has an affect on what is perceived as Florida's overpriced rental markets.

Single Family Homes-Housing Affordability

Try areas like North Tampa, East Tampa and even Lakeland for lower prices. Overvalued housing markets in Miami and South Florida probably will never slow down. There isn't enough land and many immigrants from Central & South America move there. Do you thing that South America will get better anytime soon? Probably not. If you can afford it, pack your stuff and move to the Sunshine State.