Tampa Bay’s housing market gained $22 billion in value in 2018

Tampa Bay’s housing market gained $22 billion in value last year but it’s still worth less than it was at the peak of housing bubble in 2005-06.

A Zillow analysis found that bay area homes have a cumulative value of $238.7 billion, a $122 billion gain since their lowest point but nearly 7 percent less than at the peak. Tampa Bay’s market makes up 12 percent of Florida’ housing value ($2.4 trillion.)

Nationwide, the housing market is worth $4 trillion more than it was at the height of the bubble, with California capturing a third of country’s housing recovery. Four of that state’s metro areas — Los Angeles, San Francisco, San Jose and San Diego — are among the nation’s 10 most valuable although New York/northern New Jersey is the single most valuable area.

Seen from the rearview mirror, 2018 was a year of unusually strong, stable home value growth across the country,” said Aaron Terrazas, Zillow’s senior economist. “But cracks in the foundation are clearly starting to emerge. During the second half of the year, appreciation slowed sharply in the priciest corners of the country while it picked up in affordable hot spots.

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About Author

John William is a cum laude graduate of the University of Miami, and has spent his lifetime in sales and marketing. The fourth generation to join his family business, John William manages all luxury residential sales and transactions within the Tampa Bay and South Florida markets. A keen industry insider with a finger on the pulse of the area, He is an expert identifying high-return acquisition and development opportunities for hungry investors both large and small while simultaneously working with homeowners and homebuyers to buy and sell the home of their dreams… often times without the need of the MLS or a For Sale sign. He also oversees all digital and print marketing for the company, and handles all sales training for new and established agents alike. He is a member of the Board of Directors of Brookwood Florida, the oldest charity in Florida, and works to raise millions of dollars annually for local charities and museums.