Back to Blog From one of the nation’s highest inflation rates to one of its lowest, the Tampa-St. Petersburg area has made a surprising reversal. Tampa Bay had a 1.8 percent inflation rate for the 12-month period ending in May 2024, according to the Consumer Price Index. That’s a stark change from the 11.2 percent…
Read More
Back to Blog Many homebuilders started this month with a pledge that goes against the preconceived notion some may hold about construction by committing to the U.S. Department of Commerce’s Million Women In Construction Pledge. The Pledge encourages companies to build on their workforce development and recruiting efforts to broaden opportunities for women in the…
Read More
Back to Blog Home builders’ ability to borrow money for acquisition, development and construction grew more difficult in the first quarter of 2024, but experts continue to believe AD&C loan conditions will improve when the federal government decreases interest rates later this year. According to the National Association of Home Builders, the volume of 1-4…
Read More
Back to Blog Drawing an array of elected officials and state policy makers as well as public and private sector stakeholders, Tampa Bay Builder’s Association presented Florida Policy Project’s Housing Summitt and delivered a robust and informative discussion about many of the issues affecting housing development, including affordable housing and relevant economic implications. Former state…
Read More
Back to Blog Builders seeking bigger housing sales have ignited a trend by going smaller. A new National Association of Home Builders (NAHB) report reveals that new homes built in 2023 reached their smallest median size in 13 years. Why? Builders want to make homes more affordable, especially for first-time home buyers. “Homeownership remains a…
Read More
Back to Blog Home sales have risen across the nation and in Florida and Tampa Bay, giving hope to those in the business that the market may shift from a sellers’ market to a buyers’ market. The National Association of REALTORS reported in March that existing home sales rose 9.5% in February, the second straight…
Read More
Florida continues to be one of the states bucking the trend when it comes to young adults moving out of their parental homes, according to a National Association of Home Builders study of 2022 American Community Survey (ACS) Public Use Microdata Sample (PUMS). NAHB’s assessment concluded that the share of young adults ages 25-34…
Read More The Tampa Bay Partnership’s recently-released Regional Competitiveness Report produced a mix of positives and negatives about the region, and the results related to housing and housing affordability fall into that category. The report, which compares how Tampa Bay’s eight counties – Citrus, Hernando, Hillsborough, Manatee, Pasco, Pinellas, Polk, and Sarasota – stack up against…
Read More Higher mortgage rates and ongoing supply challenges are just a few of the issues that the construction industry has been facing over the last few months. August, 2023 saw the housing market hit a speed bump as mortgage rates climbed past 7% and helped cool demand for homes. This uptick had a noticeable impact on…
Read More A recent National Association of Home Builders survey indicates that remodeling projects that allow homeowners to age in place has dropped 14 percent since 2018. Yet other indicators point to homeowners choosing renovations and upgrades as opposed to moving to new homes. The NAHB Remodeling Market Index from the first quarter of this year indicated…
Read More